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Kalpitiya Beach Resort fiscal Q1 loss narrows YOY

Kalpitiya Beach Resort PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 6 Sri Lankan cents per share, compared with a loss of 11 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 a loss of 9.7 million rupees, compared with a loss of 18.4 million rupees in the prior-year period.

Reported net income came to a loss of 17.2 million rupees, or a loss of 11 cents per share, compared to a loss of 29.4 million rupees, or a loss of 18 cents per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 134.55 Sri Lankan rupees.