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Astral Asia Q3 loss widens YOY

Astral Asia Berhad said its third-quarter normalized net income amounted to a loss of 180,130 ringgits, compared with a loss of 79,130 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 2.4% from negative 1.0% in the year-earlier period.

Total revenue declined 5.1% year over year to 7.4 million ringgits from 7.8 million ringgits, and total operating expenses fell 19.4% on an annual basis to 6.7 million ringgits from 8.3 million ringgits.

Reported net income totaled a loss of 820,000 ringgits, or a loss of 0 sen per share, compared to a loss of 916,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Nov. 23, US$1 was equivalent to 4.44 ringgits.