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NPC Resources Q2 profit falls YOY

NPC Resources Berhad said its normalized net income for the second quarter came to 1.1 million ringgits, a decrease of 45.5% from 2.1 million 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 declined to 1.5% from 2.2% in the year-earlier period.

Total revenue declined 20.1% on an annual basis to 76.4 million ringgits from 95.6 million ringgits, and total operating expenses decreased 20.1% on an annual basis to 73.0 million ringgits from 91.3 million ringgits.

Reported net income declined 34.3% from the prior-year period to 1.6 million ringgits, or 1 sen per share, from 2.4 million ringgits, or 2 sen per share.

As of Aug. 25, US$1 was equivalent to 4.03 ringgits.