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Watta Holding fiscal Q3 loss narrows YOY

Watta Holding Berhad said its normalized net income for the fiscal third quarter ended June 30 came to a loss of 121,630 ringgits, compared with a loss of 257,500 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 rose to negative 1.2% from negative 3.2% in the year-earlier period.

Total revenue climbed 28.4% on an annual basis to 10.2 million ringgits from 8.0 million ringgits, and total operating expenses rose 22.6% year over year to 10.7 million ringgits from 8.7 million ringgits.

Reported net income totaled a loss of 252,000 ringgits, or a loss of 0 sen per share, compared to a loss of 443,000 ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Aug. 25, US$1 was equivalent to 4.03 ringgits.