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Kansai Electric Power fiscal Q2 profit climbs 154.1% YOY

Kansai Electric Power Co. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥60.52 per share, an increase of 154.1% from ¥23.82 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥54.07 billion, an increase of 154.1% from ¥21.28 billion in the prior-year period.

The normalized profit margin increased to 6.4% from 2.4% in the year-earlier period.

Total revenue declined 5.0% on an annual basis to ¥841.63 billion from ¥886.39 billion, and total operating expenses decreased 11.0% year over year to ¥749.63 billion from ¥842.31 billion.

Reported net income increased 88.0% year over year to ¥59.59 billion, or ¥66.69 per share, from ¥31.69 billion, or ¥35.47 per share.

As of Nov. 5, US$1 was equivalent to ¥121.55.