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Kluang Rubber fiscal Q3 profit falls YOY

Kluang Rubber Co. (Malaya) Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to 40,750 ringgits, a decrease of 91.3% from 467,380 ringgits in the year-earlier period.

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

The normalized profit margin fell to 1.3% from 12.0% in the year-earlier period.

Total revenue fell 18.1% year over year to 3.2 million ringgits from 3.9 million ringgits, and total operating expenses totaled 2.7 million ringgits, compared with 2.7 million ringgits in the year-earlier period.

Reported net income came to a loss of 721,000 ringgits, or a loss of 1 sen per share, compared to income of 641,000 ringgits, or 1 sen per share, in the year-earlier period.

As of May 29, US$1 was equivalent to 3.66 ringgits.