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Astral Asia Q1 loss narrows YOY

Astral Asia Berhad said its normalized net income for the first quarter came to a loss of 1.2 million ringgits, compared with a loss of 1.3 million 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 negative 21.0% from negative 27.9% in the year-earlier period.

Total revenue rose 23.5% on an annual basis to 5.6 million ringgits from 4.5 million ringgits, and total operating expenses grew 15.8% year over year to 7.6 million ringgits from 6.6 million ringgits.

Reported net income came to a loss of 2.3 million ringgits, or a loss of 0 sen per share, compared to a loss of 2.2 million ringgits, or a loss of 0 sen per share, in the prior-year period.

As of May 19, US$1 was equivalent to 4.09 ringgits.