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Tianqi Lithium Industries Q3 profit climbs 36.4% YOY

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Tianqi Lithium Industries Q3 profit climbs 36.4% YOY

Tianqi Lithium Industries Inc. said its normalized net income for the third quarter came to 49 fen per share, compared with the S&P Capital IQ consensus estimate of 52 fen per share.

EPS climbed 36.6% year over year from 36 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 483.9 million yuan, an increase of 36.4% from 354.9 million yuan in the year-earlier period.

The normalized profit margin declined to 31.3% from 33.3% in the year-earlier period.

Total revenue climbed 45.2% on an annual basis to 1.55 billion yuan from 1.06 billion yuan, and total operating expenses rose 34.7% year over year to 535.6 million yuan from 397.7 million yuan.

Reported net income increased 30.2% from the prior-year period to 594.4 million yuan, or 60 fen per share, from 456.7 million yuan, or 46 fen per share.

As of Oct. 26, US$1 was equivalent to 6.63 yuan.