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Autodrome fiscal Q1 profit climbs 23.8% YOY

Autodrome PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to 67 Sri Lankan cents per share, an increase of 23.8% from 54 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.1 million rupees, a gain of 23.8% from 6.5 million rupees in the prior-year period.

The normalized profit margin rose to 5.8% from 4.6% in the year-earlier period.

Total revenue declined on an annual basis to 139.1 million rupees from 141.8 million rupees, and total operating expenses declined on an annual basis to 128.5 million rupees from 132.2 million rupees.

Reported net income grew 29.1% year over year to 9.4 million rupees, or 78 cents per share, from 7.3 million rupees, or 60 cents per share.

As of July 23, US$1 was equivalent to 130.25 Sri Lankan rupees.