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Berjaya Assets fiscal Q1 profit climbs 50.5% YOY

Berjaya Assets Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 7.5 million ringgits, a gain of 50.5% from 5.0 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 7.8% from 5.1% in the year-earlier period.

Total revenue declined year over year to 96.3 million ringgits from 97.3 million ringgits, and total operating expenses declined 8.5% on an annual basis to 70.3 million ringgits from 76.8 million ringgits.

Reported net income grew 62.7% on an annual basis to 11.6 million ringgits, or 1 sen per share, from 7.1 million ringgits, or 0 sen per share.

As of Nov. 27, US$1 was equivalent to 4.27 ringgits.