Kamdar Group (M) Bhd. said its first-quarter normalized net income was 1.5 million ringgits, a fall of 12.9% from 1.7 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 fell to 3.3% from 4.1% in the year-earlier period.

Total revenue climbed 7.9% year over year to 43.6 million ringgits from 40.4 million ringgits, and total operating expenses climbed 9.2% from the prior-year period to 40.9 million ringgits from 37.5 million ringgits.

Reported net income fell 11.8% year over year to 1.5 million ringgits, or 1 sen per share, from 1.7 million ringgits, or 1 sen per share.

As of May 29, US$1 was equivalent to 3.66 ringgits.