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Permaju Industries swings to loss in Q3

Permaju Industries Berhad said its normalized net income for the third quarter amounted to a loss of 620,000 ringgits, compared with income of 156,750 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 declined to negative 3.8% from 0.5% in the year-earlier period.

Total revenue declined 48.2% on an annual basis to 16.4 million ringgits from 31.6 million ringgits, and total operating expenses decreased 43.8% on an annual basis to 17.1 million ringgits from 30.4 million ringgits.

Reported net income came to a loss of 1.1 million ringgits, or a loss of 1 sen per share, compared to income of 43,000 ringgits, or 0 sen per share, in the year-earlier period.

As of Nov. 25, US$1 was equivalent to 4.44 ringgits.