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C M Holdings fiscal Q1 profit climbs YOY

C M Holdings PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to 7.17 Sri Lankan rupees per share, a decrease of 28.6% from 10.04 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 91.7 million rupees, a gain from 26.4 million rupees in the prior-year period.

The normalized profit margin rose to 29.6% from 10.7% in the year-earlier period.

Total revenue increased 26.2% year over year to 310.4 million rupees from 245.9 million rupees, and total operating expenses fell 42.0% year over year to 106.3 million rupees from 183.2 million rupees.

Reported net income increased year over year to 127.7 million rupees, or 9.97 rupees per share, from 39.7 million rupees, or 15.08 rupees per share.

As of Aug. 15, US$1 was equivalent to 130.18 Sri Lankan rupees.