Fiamma Holdings Bhd. said its normalized net income for the fiscal second quarter ended March 31 amounted to 3.1 million ringgits, a decline of 62.0% from 8.2 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 dropped to 4.6% from 8.9% in the year-earlier period.

Total revenue declined 25.8% year over year to 68.3 million ringgits from 92.1 million ringgits, and total operating expenses decreased 20.2% on an annual basis to 60.7 million ringgits from 76.1 million ringgits.

Reported net income fell 62.7% from the prior-year period to 3.8 million ringgits, or 1 sen per share, from 10.1 million ringgits, or 2 sen per share.

As of May 25, US$1 was equivalent to 4.10 ringgits.