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IPeople Q3 profit climbs 5.9% YOY

iPeople Inc. said its normalized net income for the third quarter was 24 Philippine centavos per share, a gain of 5.6% from 23 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 181.9 million pesos, a gain of 5.9% from 171.7 million pesos in the prior-year period.

The normalized profit margin increased to 25.4% from 24.8% in the year-earlier period.

Total revenue increased year over year to 705.4 million pesos from 692.7 million pesos, and total operating expenses grew year over year to 379.8 million pesos from 375.1 million pesos.

Reported net income rose 6.2% on an annual basis to 272.2 million pesos, or 36 centavos per share, from 256.2 million pesos, or 34 centavos per share.

As of Nov. 17, US$1 was equivalent to 47.20 Philippine pesos.