GPA Holdings Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 853,130 ringgits, compared with a loss of 1.6 million 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 climbed to negative 1.9% from negative 4.6% in the year-earlier period.

Total revenue grew 27.4% on an annual basis to 44.7 million ringgits from 35.1 million ringgits, and total operating expenses rose 25.5% year over year to 49.6 million ringgits from 39.5 million ringgits.

Reported net income totaled a loss of 1.1 million ringgits, or a loss of 0 sen per share, compared to a loss of 2.6 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Nov. 19, US$1 was equivalent to 4.28 ringgits.