Permaju Industries Bhd. said its normalized net income for the first quarter came to a loss of 68,250 ringgits, compared with a loss of 916,380 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 negative 0.2% from negative 2.9% in the year-earlier period.

Total revenue decreased 6.8% year over year to 29.8 million ringgits from 32.0 million ringgits, and total operating expenses fell 9.8% on an annual basis to 29.2 million ringgits from 32.4 million ringgits.

Reported net income totaled a loss of 386,000 ringgits, or a loss of 0 sen per share, compared to a loss of 1.3 million ringgits, or a loss of 1 sen per share, in the prior-year period.

As of May 27, US$1 was equivalent to 3.65 ringgits.