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Selinsing fiscal Q2 profit climbs YOY

Selinsing PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 4.33 Sri Lankan rupees per share, an increase from 4.23 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 30.0 million rupees, an increase from 29.4 million rupees in the prior-year period.

The normalized profit margin increased to 38.0% from 36.3% in the year-earlier period.

Total revenue declined year over year to 79.0 million rupees from 80.8 million rupees, and total operating expenses fell 8.5% year over year to 31.0 million rupees from 33.9 million rupees.

Reported net income grew on an annual basis to 38.6 million rupees, or 5.57 rupees per share, from 37.5 million rupees, or 5.40 rupees per share.

As of Nov. 14, US$1 was equivalent to 131 Sri Lankan rupees.