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Khind Holdings swings to loss in Q1

Khind Holdings Berhad said its first-quarter normalized net income amounted to a loss of 400,000 ringgits, compared with income of 1.2 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 dropped to negative 0.5% from 1.7% in the year-earlier period.

Total revenue climbed 8.1% on an annual basis to 74.1 million ringgits from 68.6 million ringgits, and total operating expenses rose 11.9% from the prior-year period to 74.1 million ringgits from 66.2 million ringgits.

Reported net income came to a loss of 502,000 ringgits, or a loss of 1 sen per share, compared to income of 1.4 million ringgits, or 3 sen per share, in the prior-year period.

As of May 20, US$1 was equivalent to 3.61 ringgits.