GPA Holdings Bhd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 1.1 million ringgits, compared with a loss of 526,250 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 fell to negative 2.5% from negative 1.3% in the year-earlier period.

Total revenue climbed 13.7% year over year to 44.4 million ringgits from 39.0 million ringgits, and total operating expenses rose 14.9% year over year to 47.2 million ringgits from 41.1 million ringgits.

Reported net income came to a loss of 1.8 million ringgits, or a loss of 0 sen per share, compared to a loss of 881,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Aug. 28, US$1 was equivalent to 4.18 ringgits.