Elpitiya Plantations PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 67 Sri Lankan cents per share, a decrease of 26.1% from 91 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 48.8 million rupees, a decline of 26.4% from 66.3 million rupees in the year-earlier period.
The normalized profit margin dropped to 7.7% from 9.9% in the year-earlier period.
Total revenue fell 5.0% on an annual basis to 632.9 million rupees from 666.4 million rupees, and total operating expenses totaled 604.5 million rupees, compared with 607.8 million rupees in the prior-year period.
Reported net income fell 26.6% on an annual basis to 73.4 million rupees, or 1.01 rupees per share, from 100.0 million rupees, or 1.37 rupees per share.
As of Nov. 14, US$1 was equivalent to 131 Sri Lankan rupees.
