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Indo-Malay fiscal Q1 profit falls YOY

Indo-Malay PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.63 Sri Lankan rupees per share, a decline of 16.3% from 1.94 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 11.4 million rupees, a decrease of 16.5% from 13.6 million rupees in the year-earlier period.

The normalized profit margin increased to 62.5% from 34.8% in the year-earlier period.

Total revenue declined 7.2% on an annual basis to 36.3 million rupees from 39.1 million rupees, and total operating expenses grew year over year to 18.0 million rupees from 17.4 million rupees.

Reported net income decreased 33.7% from the prior-year period to 13.5 million rupees, or 1.94 rupees per share, from 20.4 million rupees, or 2.92 rupees per share.

As of Aug. 7, US$1 was equivalent to 133.75 Sri Lankan rupees.