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Borneo Oil fiscal Q3 profit climbs YOY

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Borneo Oil fiscal Q3 profit climbs YOY

Borneo Oil Bhd. said its normalized net income for the fiscal third quarter ended Oct. 31 was 3.3 million ringgits, an increase from 918,750 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 rose to 13.7% from 4.3% in the year-earlier period.

Total revenue rose 13.2% on an annual basis to 24.0 million ringgits from 21.2 million ringgits, and total operating expenses fell year over year to 18.6 million ringgits from 19.5 million ringgits.

Reported net income rose year over year to 5.3 million ringgits, or 1 sen per share, from 1.5 million ringgits, or 0 sen per share.

As of Dec. 28, US$1 was equivalent to 4.30 ringgits.