Caring Pharmacy Group Bhd. said its normalized net income for the fiscal first quarter ended Aug. 31 was 452,000 ringgits, a decline of 84.6% from 2.9 million 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 0.5% from 3.5% in the year-earlier period.

Total revenue increased 5.4% year over year to 88.4 million ringgits from 83.9 million ringgits, and total operating expenses increased 11.3% year over year to 87.3 million ringgits from 78.4 million ringgits.

Reported net income fell 84.7% year over year to 554,000 ringgits, or 0 sen per share, from 3.6 million ringgits, or 2 sen per share.

As of Oct. 29, US$1 was equivalent to 3.27 ringgits.