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Eduspec Holdings fiscal Q2 loss narrows YOY

Eduspec Holdings Bhd. said its normalized net income for the fiscal second quarter ended March 31 was a loss of 703,630 ringgits, compared with a loss of 1.3 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 rose to negative 5.0% from negative 10.3% in the year-earlier period.

Total revenue grew 10.8% year over year to 14.1 million ringgits from 12.7 million ringgits, and total operating expenses decreased 7.1% year over year to 14.9 million ringgits from 16.1 million ringgits.

Reported net income came to a loss of 1.5 million ringgits, or a loss of 0 sen per share, compared to a loss of 2.3 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of May 25, US$1 was equivalent to 4.10 ringgits.