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Amtel fiscal Q1 loss widens 80.7% YOY

Amtel Holdings Bhd. said its normalized net income for the fiscal first quarter ended Feb. 29 was a loss of 357,880 ringgits, compared with a loss of 198,000 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 dropped to negative 4.2% from negative 2.3% in the year-earlier period.

Total revenue totaled 8.4 million ringgits, compared with 8.4 million ringgits in the prior-year period, and total operating expenses increased from the prior-year period to 9.0 million ringgits from 8.8 million ringgits.

Reported net income totaled a loss of 701,000 ringgits, or a loss of 1 sen per share, compared to a loss of 359,000 ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 3.89 ringgits.