Namunukula Plantations PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.31 Sri Lankan rupees per share, a decline from 1.34 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 31.0 million rupees, a decline from 31.8 million rupees in the prior-year period.
The normalized profit margin dropped to 6.4% from 7.5% in the year-earlier period.
Total revenue fell 13.6% year over year to 368.3 million rupees from 426.3 million rupees, and total operating expenses declined 8.0% on an annual basis to 354.7 million rupees from 385.4 million rupees.
Reported net income grew from the prior-year period to 48.6 million rupees, or 2.05 rupees per share, from 47.1 million rupees, or 1.98 rupees per share.
As of Aug. 12, US$1 was equivalent to 130.20 Sri Lankan rupees.