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Karambunai Corp. fiscal Q2 loss narrows YOY

Karambunai Corp. Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 4.1 million ringgits, compared with a loss of 6.2 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 28.0% from negative 55.6% in the year-earlier period.

Total revenue grew 31.4% year over year to 14.7 million ringgits from 11.2 million ringgits, and total operating expenses came to 21.3 million ringgits, compared with 21.1 million ringgits in the prior-year period.

Reported net income totaled a loss of 6.9 million ringgits, or a loss of 0 sen per share, compared to a loss of 6.3 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Nov. 27, US$1 was equivalent to 4.27 ringgits.