Berjaya Assets Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to 1.1 million ringgits, a fall of 90.9% from 11.9 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 declined to negative 0.7% from 11.2% in the year-earlier period.

Total revenue fell 7.8% year over year to 97.8 million ringgits from 106.1 million ringgits, and total operating expenses decreased on an annual basis to 77.3 million ringgits from 80.6 million ringgits.

Reported net income came to a loss of 2.5 million ringgits, or a loss of 0 sen per share, compared to income of 19.0 million ringgits, or 1 sen per share, in the year-earlier period.

As of May 25, US$1 was equivalent to 4.10 ringgits.