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Interhides Q3 profit falls YOY

Interhides Public Company Ltd said its third-quarter normalized net income amounted to 2 satang per share, a decline of 78.4% from 8 satang per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.4 million baht, a decrease of 78.4% from 39.0 million baht in the prior-year period.

The normalized profit margin fell to 1.6% from 8.8% in the year-earlier period.

Total revenue rose 18.5% on an annual basis to 528.1 million baht from 445.5 million baht, and total operating expenses climbed 29.5% year over year to 488.9 million baht from 377.6 million baht.

Reported net income decreased 77.5% from the prior-year period to 13.5 million baht, or 3 satang per share, from 60.2 million baht, or 12 satang per share.

As of Nov. 12, US$1 was equivalent to 35.85 baht.