Kamdar Group (M) Bhd. said its normalized net income for the second quarter came to 1.9 million ringgits, a decrease of 55.4% from 4.2 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 dropped to 3.8% from 9.5% in the year-earlier period.

Total revenue climbed 11.7% on an annual basis to 49.7 million ringgits from 44.4 million ringgits, and total operating expenses increased 12.0% from the prior-year period to 46.6 million ringgits from 41.6 million ringgits.

Reported net income fell 57.8% on an annual basis to 2.1 million ringgits, or 1 sen per share, from 4.9 million ringgits, or 2 sen per share.

As of Aug. 24, US$1 was equivalent to 4.04 ringgits.