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EKA Noodles Q3 loss widens YOY

EKA Noodles Bhd. said its normalized net income for the third quarter came to a loss of 3.7 million ringgits, compared with a loss of 1.7 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 declined to negative 58.2% from negative 13.1% in the year-earlier period.

Total revenue declined 50.3% year over year to 6.3 million ringgits from 12.7 million ringgits, and total operating expenses declined 18.3% year over year to 11.6 million ringgits from 14.2 million ringgits.

Reported net income totaled a loss of 5.9 million ringgits, or a loss of 2 sen per share, compared to a loss of 1.7 million ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Dec. 1, US$1 was equivalent to 4.47 ringgits.