Maskeliya Plantations PLC said its normalized net income for the fiscal first quarter ended June 30 came to 28 Sri Lankan cents per share, compared with a loss of 98 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.0 million rupees, compared with a loss of 52.8 million rupees in the year-earlier period.
The normalized profit margin increased to 1.5% from negative 5.8% in the year-earlier period.
Total revenue grew 6.3% year over year to 975.8 million rupees from 918.1 million rupees, and total operating expenses declined 5.6% year over year to 926.8 million rupees from 981.7 million rupees.
Reported net income came to 24.1 million rupees, or 45 cents per share, compared to a loss of 84.5 million rupees, or a loss of 1.57 rupees per share, in the year-earlier period.
As of Aug. 12, US$1 was equivalent to 130.20 Sri Lankan rupees.