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Geeya Technology Q1 profit climbs 38.5% YOY

Geeya Technology Co. Ltd. said its first-quarter normalized net income amounted to 1.8 million yuan, an increase of 38.5% from 1.3 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 6.2% from 1.0% in the year-earlier period.

Total revenue declined 36.8% year over year to 78.1 million yuan from 123.5 million yuan, and total operating expenses fell 31.4% from the prior-year period to 79.4 million yuan from 115.7 million yuan.

Reported net income rose from the prior-year period to 7.7 million yuan, or 2 fen per share, from 2.3 million yuan, or 1 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.