Metro Holdings Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 1 Singapore cents per share, a decline of 73.1% from 5 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was S$12.5 million, a decrease of 72.6% from S$45.5 million in the prior-year period.

The normalized profit margin declined to 32.6% from 145.2% in the year-earlier period.

Total revenue climbed 22.3% year over year to S$38.3 million from S$31.3 million, and total operating expenses rose on an annual basis to S$39.0 million from S$37.3 million.

Reported net income fell 69.7% year over year to S$18.6 million, or 2 cents per share, from S$61.2 million, or 7 cents per share.

As of Nov. 11, US$1 was equivalent to S$1.42.