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Vichitbhan Palmoil Q1 loss widens YOY

Vichitbhan Palmoil Public Company Ltd said its first-quarter normalized net income amounted to a loss of 35.2 million baht, compared with a loss of 4.4 million baht in the year-earlier period.

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

The normalized profit margin fell to negative 11.8% from negative 1.1% in the year-earlier period.

Total revenue declined 26.0% year over year to 299.0 million baht from 404.3 million baht, and total operating expenses decreased 12.7% from the prior-year period to 348.4 million baht from 398.9 million baht.

Reported net income came to a loss of 56.0 million baht, or a loss of 6 satang per share, compared to a loss of 13.4 million baht, or a loss of 2 satang per share, in the year-earlier period.

As of May 12, US$1 was equivalent to 33.74 baht.