Kamdar Group (M) Bhd. said its first-quarter normalized net income amounted to 1.8 million ringgits, a rise of 24.9% from 1.5 million ringgits in the year-earlier period.

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

The normalized profit margin increased to 4.8% from 3.3% in the year-earlier period.

Total revenue declined 13.3% year over year to 37.8 million ringgits from 43.6 million ringgits, and total operating expenses decreased 15.6% on an annual basis to 34.6 million ringgits from 40.9 million ringgits.

Reported net income increased 24.8% on an annual basis to 1.8 million ringgits, or 1 sen per share, from 1.5 million ringgits, or 1 sen per share.

As of May 31, US$1 was equivalent to 4.11 ringgits.