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IDT International fiscal H1 loss narrows YOY

IDT International Ltd said its normalized net income for the fiscal first half ended Sept. 30 came to a loss of HK$3.6 million, compared with a loss of HK$13.5 million in the year-earlier period.

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

Total revenue fell 16.8% year over year to HK$603.1 million from HK$724.5 million, and total operating expenses fell 18.0% on an annual basis to HK$612.8 million from HK$747.3 million.

Reported net income came to a loss of HK$6.8 million, or a loss of 0 cents per share, compared to a loss of HK$8.8 million, or a loss of 0 cents per share, in the prior-year period.