SMRT Holdings Berhad said its normalized net income for the first quarter was 1.4 million ringgits, a rise of 85.5% from 749,820 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 increased to 4.8% from 3.2% in the year-earlier period.

Total revenue grew 25.3% year over year to 29.1 million ringgits from 23.3 million ringgits, and total operating expenses grew 28.2% on an annual basis to 26.4 million ringgits from 20.6 million ringgits.

Reported net income decreased 39.6% from the prior-year period to 787,460 ringgits, or 0 sen per share, from 1.3 million ringgits, or 1 sen per share.

As of May 22, US$1 was equivalent to 3.60 ringgits.