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Visdynamics fiscal Q1 profit falls YOY

Visdynamics Holdings Bhd. said its normalized net income for the fiscal first quarter ended Jan. 31 came to 150,630 ringgits, a decrease of 64.7% from 426,250 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 declined to 3.6% from 13.0% in the year-earlier period.

Total revenue climbed 28.8% year over year to 4.2 million ringgits from 3.3 million ringgits, and total operating expenses grew 54.0% from the prior-year period to 4.0 million ringgits from 2.6 million ringgits.

Reported net income declined 63.4% year over year to 249,060 ringgits, or 0 sen per share, from 679,700 ringgits, or 0 sen per share.

As of March 24, US$1 was equivalent to 4.03 ringgits.