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Mintye fiscal Q1 profit climbs 48.9% YOY

Mintye Bhd. said its normalized net income for the fiscal first quarter ended April 30 amounted to 894,250 ringgits, an increase of 48.9% from 600,380 ringgits in the prior-year 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 5.0% in the year-earlier period.

Total revenue climbed 20.0% year over year to 14.4 million ringgits from 12.0 million ringgits, and total operating expenses rose 17.5% from the prior-year period to 13.0 million ringgits from 11.0 million ringgits.

Reported net income grew 81.0% on an annual basis to 1.2 million ringgits, or 2 sen per share, from 658,000 ringgits, or 1 sen per share.

As of June 27, US$1 was equivalent to 3.21 ringgits.