Lanka Century Investments PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 4 Sri Lankan cents per share, a decline of 81.5% from 23 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 16.1 million rupees, a decline of 80.2% from 81.4 million rupees in the year-earlier period.
The normalized profit margin dropped to 1.3% from 3.8% in the year-earlier period.
Total revenue grew 11.3% year over year to 2.40 billion rupees from 2.16 billion rupees, and total operating expenses rose 15.1% year over year to 2.28 billion rupees from 1.98 billion rupees.
Reported net income decreased 82.2% year over year to 18.7 million rupees, or 5 cents per share, from 105.0 million rupees, or 30 cents per share.
As of Feb. 12, US$1 was equivalent to 132.72 Sri Lankan rupees.
