Paos Holdings Bhd. said its normalized net income for the fiscal first quarter ended Aug. 31 amounted to 480,630 ringgits, a rise from 120,630 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 3.2% from 1.0% in the year-earlier period.

Total revenue increased 26.2% on an annual basis to 15.2 million ringgits from 12.0 million ringgits, and total operating expenses increased 22.5% on an annual basis to 14.5 million ringgits from 11.8 million ringgits.

Reported net income grew on an annual basis to 450,000 ringgits, or 0 sen per share, from 51,000 ringgits, or 0 sen per share.

As of Oct. 27, US$1 was equivalent to 4.28 ringgits.