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Karambunai Corp. fiscal Q2 loss widens YOY

Karambunai Corp. Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 6.2 million ringgits, compared with a loss of 1.0 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 55.6% from negative 1.4% in the year-earlier period.

Total revenue declined 84.6% year over year to 11.2 million ringgits from 72.9 million ringgits, and total operating expenses fell 71.5% year over year to 21.1 million ringgits from 74.1 million ringgits.

Reported net income totaled a loss of 6.3 million ringgits, or a loss of 0 sen per share, compared to a loss of 7.4 million ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Nov. 25, US$1 was equivalent to 3.35 ringgits.