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Watta Holding fiscal Q1 profit climbs 14.4% YOY

Watta Holding Berhad said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to 20,880 ringgits, a gain of 14.4% from 18,250 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 increased to 0.2% from 0.2% in the year-earlier period.

Total revenue declined 8.1% year over year to 10.1 million ringgits from 11.0 million ringgits, and total operating expenses fell 7.7% from the prior-year period to 10.3 million ringgits from 11.2 million ringgits.

Reported net income fell 40.0% on an annual basis to 15,000 ringgits, or 0 sen per share, from 25,000 ringgits, or 0 sen per share.

As of Feb. 13, US$1 was equivalent to 3.56 ringgits.