Raigam Wayamba Salterns PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 2.9 million rupees, a fall of 56.9% from 6.7 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 declined to 2.5% from 6.7% in the year-earlier period.
Total revenue grew 15.2% year over year to 115.3 million rupees from 100.1 million rupees, and total operating expenses grew 23.9% from the prior-year period to 110.8 million rupees from 89.4 million rupees.
Reported net income fell 70.2% year over year to 3.2 million rupees, or 1 cents per share, from 10.7 million rupees, or 4 cents per share.
As of Feb. 15, US$1 was equivalent to 144.09 Sri Lankan rupees.