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Malpac Holdings fiscal Q3 loss narrows YOY

Malpac Holdings Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 174,380 ringgits, compared with a loss of 1.8 million ringgits in the third quarter ended Sept. 30, 2015.

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

The normalized profit margin climbed to negative 12.8% from negative 244.0% in the year-earlier period.

Total revenue climbed 85.3% on an annual basis to 1.4 million ringgits from 736,000 ringgits, and total operating expenses fell 54.5% from the prior-year period to 1.6 million ringgits from 3.6 million ringgits.

Reported net income came to a loss of 102,000 ringgits, or a loss of 0 sen per share, compared to a loss of 2.9 million ringgits, or a loss of 4 sen per share, in the third quarter ended Sept. 30, 2015.

As of May 18, US$1 was equivalent to 4.05 ringgits.