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Blue Power Group fiscal Q3 profit falls YOY

Blue Power Group Ltd. said its normalized net income for the fiscal third quarter ended Jan. 31 came to 14 Jamaican cents per share, a decrease of 18.5% from 17 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$7.8 million, a decrease of 18.5% from J$9.5 million in the year-earlier period.

The normalized profit margin declined to 2.9% from 3.7% in the year-earlier period.

Total revenue rose on an annual basis to J$263.9 million from J$259.1 million, and total operating expenses grew from the prior-year period to J$254.6 million from J$246.6 million.

Reported net income decreased 18.5% from the prior-year period to J$12.4 million, or 22 cents per share, from J$15.2 million, or 27 cents per share.

As of Feb. 27, US$1 was equivalent to J$115.36.