Zhuzhou CRRC Times Electric (03898) said its net profit attributable to shareholders of the parent for the three months ended 31 March 2017 dropped 15.3% year-on-year to Rmb480 million, which was mainly attributable to the decrease in the refunds of tax during the year.
Basic and diluted earnings per share were Rmb0.41.
The revenue was Rmb2,437 million, a decrease of 0.5% from a year earlier.
The gross profit dipped 0.8% year-on-year to Rmb944 million. The group's gross profit margin decreased from 38.8% to 38.7%.
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