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Renuka Foods fiscal Q3 profit climbs 83.4% YOY

Renuka Foods PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 43 Sri Lankan cents per share, an increase of 83.2% from 23 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 40.1 million rupees, an increase of 83.4% from 21.8 million rupees in the year-earlier period.

The normalized profit margin increased to 2.1% from 1.3% in the year-earlier period.

Total revenue grew 13.3% year over year to 1.90 billion rupees from 1.68 billion rupees, and total operating expenses rose 15.6% from the prior-year period to 1.78 billion rupees from 1.54 billion rupees.

Reported net income increased from the prior-year period to 69.7 million rupees, or 74 cents per share, from 66.8 million rupees, or 71 cents per share.

As of Feb. 5, US$1 was equivalent to 144.06 Sri Lankan rupees.