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SMRT Holdings Q3 loss narrows YOY

SMRT Holdings Berhad said its normalized net income for the third quarter was a loss of 2.2 million ringgits, compared with a loss of 2.5 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 declined to negative 9.8% from negative 9.5% in the year-earlier period.

Total revenue fell 17.0% on an annual basis to 22.3 million ringgits from 26.8 million ringgits, and total operating expenses decreased 20.9% from the prior-year period to 23.3 million ringgits from 29.4 million ringgits.

Reported net income came to a loss of 4.8 million ringgits, or a loss of 2 sen per share, compared to a loss of 4.8 million ringgits, or a loss of 2 sen per share, in the year-earlier period.

As of Nov. 25, US$1 was equivalent to 4.44 ringgits.