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Karambunai Corp. fiscal Q3 loss narrows YOY

Karambunai Corp. Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 6.4 million ringgits, compared with a loss of 8.9 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 declined to negative 47.0% from negative 18.5% in the year-earlier period.

Total revenue declined 71.6% year over year to 13.7 million ringgits from 48.3 million ringgits, and total operating expenses declined 61.2% from the prior-year period to 24.0 million ringgits from 61.8 million ringgits.

Reported net income came to a loss of 10.6 million ringgits, or a loss of 0 sen per share, compared to a loss of 17.5 million ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Feb. 10, US$1 was equivalent to 3.58 ringgits.