Carabao Group Public Company Ltd said its third-quarter normalized net income came to 22 satang per share, a decline from 22 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 215.7 million baht, a gain of 15.8% from 186.2 million baht in the year-earlier period.

The normalized profit margin increased to 11.1% from 10.0% in the year-earlier period.

Total revenue rose on an annual basis to 1.95 billion baht from 1.86 billion baht, and total operating expenses rose from the prior-year period to 1.61 billion baht from 1.54 billion baht.

Reported net income increased 24.0% from the prior-year period to 299.7 million baht, or 30 satang per share, from 241.7 million baht, or 29 satang per share.

As of Nov. 17, US$1 was equivalent to 36.01 baht.