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Taprobane Holdings swings to loss in fiscal Q3

Ambeon Capital PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 15.9 million rupees, compared with income of 6.0 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 0.1% from 3.6% in the year-earlier period.

Total revenue increased year over year to 2.55 billion rupees from 169.1 million rupees, and total operating expenses climbed year over year to 2.40 billion rupees from 82.9 million rupees.

Reported net income totaled a loss of 26.7 million rupees, or a loss of 3 cents per share, compared to income of 19.7 million rupees, or 2 cents per share, in the year-earlier period.

As of Feb. 12, US$1 was equivalent to 132.72 Sri Lankan rupees.