Permaju Industries Berhad said its first-quarter normalized net income came to a loss of 450,750 ringgits, compared with a loss of 68,250 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 declined to negative 2.8% from negative 0.2% in the year-earlier period.

Total revenue decreased 46.6% on an annual basis to 15.9 million ringgits from 29.8 million ringgits, and total operating expenses decreased 43.8% from the prior-year period to 16.4 million ringgits from 29.2 million ringgits.

Reported net income totaled a loss of 855,000 ringgits, or a loss of 0 sen per share, compared to a loss of 386,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of May 27, US$1 was equivalent to 4.08 ringgits.