Nation Broadcasting Corporation PCL said its normalized net income for the first quarter amounted to a loss of 38.8 million baht, compared with a loss of 2.6 million baht in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 29.0% from negative 1.4% in the year-earlier period.

Total revenue decreased 26.7% year over year to 133.8 million baht from 182.6 million baht, and total operating expenses increased 5.7% year over year to 189.7 million baht from 179.5 million baht.

Reported net income totaled a loss of 49.0 million baht, or a loss of 9 satang per share, compared to a loss of 3.2 million baht, or a loss of 1 satang per share, in the year-earlier period.

As of May 4, US$1 was equivalent to 35.13 baht.