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QL Resources fiscal Q2 profit climbs 18.3% YOY

QL Resources Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 3 Malaysian sen per share, a gain of 18.3% from 2 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 44.5 million ringgits, an increase of 18.3% from 37.6 million ringgits in the prior-year period.

The normalized profit margin climbed to 6.4% from 5.7% in the year-earlier period.

Total revenue climbed 5.2% on an annual basis to 690.4 million ringgits from 656.5 million ringgits, and total operating expenses increased on an annual basis to 618.0 million ringgits from 593.2 million ringgits.

Reported net income increased 14.5% from the prior-year period to 55.2 million ringgits, or 3 sen per share, from 48.2 million ringgits, or 3 sen per share.

As of Nov. 20, US$1 was equivalent to 4.27 ringgits.