Pinehill Pacific Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 1.7 million ringgits, compared with a loss of 245,380 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 31.2% from negative 3.1% in the year-earlier period.

Total revenue declined 30.9% year over year to 5.5 million ringgits from 7.9 million ringgits, and total operating expenses rose from the prior-year period to 8.5 million ringgits from 2.0 million ringgits.

Reported net income totaled a loss of 3.7 million ringgits, or a loss of 2 sen per share, compared to income of 816,000 ringgits, or 1 sen per share, in the prior-year period.

As of May 26, US$1 was equivalent to 3.64 ringgits.