Brahim's Holdings Bhd. said its normalized net income for the first quarter came to 826,380 ringgits, a fall of 79.2% from 4.0 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 1.0% from 4.3% in the year-earlier period.

Total revenue decreased 7.3% on an annual basis to 85.7 million ringgits from 92.5 million ringgits, and total operating expenses decreased from the prior-year period to 77.8 million ringgits from 79.2 million ringgits.

Reported net income decreased 31.7% on an annual basis to 2.8 million ringgits, or 1 sen per share, from 4.2 million ringgits, or 2 sen per share.

As of May 28, US$1 was equivalent to 3.65 ringgits.