Niche Capital Emas Holdings Bhd. said its normalized net income for the fiscal third quarter ended March 31 was a loss of 357,630 ringgits, compared with a loss of 346,000 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 negative 11.3% from negative 4.8% in the year-earlier period.

Total revenue declined 56.2% on an annual basis to 3.2 million ringgits from 7.2 million ringgits, and total operating expenses fell 58.9% from the prior-year period to 3.6 million ringgits from 8.7 million ringgits.

Reported net income came to a loss of 514,700 ringgits, or a loss of 0 sen per share, compared to a loss of 909,180 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of May 27, US$1 was equivalent to 4.08 ringgits.