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Envictus International swings to loss in fiscal Q3

Envictus International Holdings Ltd. said its normalized net income for the fiscal third quarter ended June 30 was a loss of 678,500 ringgits, compared with income of 347,000 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 dropped to negative 0.2% from 0.4% in the year-earlier period.

Total revenue climbed 18.8% year over year to 94.1 million ringgits from 79.2 million ringgits, and total operating expenses rose 21.1% from the prior-year period to 98.3 million ringgits from 81.2 million ringgits.

Reported net income came to a loss of 2.4 million ringgits, or a loss of 2 sen per share, compared to income of 1.6 million ringgits, or 1 sen per share, in the year-earlier period.

As of Aug. 12, US$1 was equivalent to 4.01 ringgits.