SWS Capital Bhd. said its normalized net income for the fiscal second quarter ended Feb. 29 was 1.2 million ringgits, an increase from 150,570 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 3.1% from 0.5% in the year-earlier period.

Total revenue rose 28.6% on an annual basis to 38.4 million ringgits from 29.8 million ringgits, and total operating expenses rose 18.1% year over year to 35.1 million ringgits from 29.7 million ringgits.

Reported net income grew on an annual basis to 1.9 million ringgits, or 1 sen per share, from 403,290 ringgits, or 0 sen per share.

As of April 27, US$1 was equivalent to 3.93 ringgits.