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Browns Investments fiscal Q3 loss widens YOY

Browns Investments PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 72.7 million rupees, compared with a loss of 3.4 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 climbed to 0.3% from negative 0.9% in the year-earlier period.

Total revenue increased 38.0% year over year to 539.5 million rupees from 391.0 million rupees, and total operating expenses rose 30.1% from the prior-year period to 500.2 million rupees from 384.4 million rupees.

Reported net income came to a loss of 155.7 million rupees, or a loss of 6 cents per share, compared to income of 2.6 million rupees, or 0 cents per share, in the year-earlier period.

As of Feb. 11, US$1 was equivalent to 132.80 Sri Lankan rupees.