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Tibet Tourism Q3 profit climbs 74.4% YOY

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Tibet Tourism Q3 profit climbs 74.4% YOY

Tibet Tourism Co. Ltd. said its normalized net income for the third quarter came to 6 fen per share, a gain of 78.6% from 3 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.5 million yuan, an increase of 74.4% from 6.0 million yuan in the year-earlier period.

The normalized profit margin climbed to 15.9% from 7.5% in the year-earlier period.

Total revenue decreased 18.3% year over year to 65.3 million yuan from 79.9 million yuan, and total operating expenses declined 32.7% year over year to 45.2 million yuan from 67.2 million yuan.

Reported net income rose 53.5% from the prior-year period to 13.1 million yuan, or 7 fen per share, from 8.5 million yuan, or 5 fen per share.

As of Oct. 21, US$1 was equivalent to 6.77 yuan.