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Keyang Electric Machinery Q3 profit climbs 42.0% YOY

Keyang Electric Machinery Co. Ltd. said its third-quarter normalized net income was 72.19 South Korean won per share, an increase of 40.8% from 51.27 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.47 billion won, an increase of 42.0% from 1.74 billion won in the prior-year period.

The normalized profit margin increased to 3.4% from 2.5% in the year-earlier period.

Total revenue increased on an annual basis to 72.57 billion won from 70.07 billion won, and total operating expenses increased from the prior-year period to 70.49 billion won from 68.89 billion won.

Reported net income grew 42.6% year over year to 3.38 billion won, or 99.00 won per share, from 2.37 billion won, or 70.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.