Brahim's Holdings Bhd. said its normalized net income for the first quarter came to a loss of 3.1 million ringgits, compared with income of 826,380 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 fell to negative 5.1% from 1.0% in the year-earlier period.

Total revenue fell 29.5% on an annual basis to 60.5 million ringgits from 85.7 million ringgits, and total operating expenses fell 19.4% year over year to 62.5 million ringgits from 77.5 million ringgits.

Reported net income totaled a loss of 5.0 million ringgits, or a loss of 2 sen per share, compared to income of 2.8 million ringgits, or 1 sen per share, in the prior-year period.

As of May 26, US$1 was equivalent to 4.06 ringgits.