Indo-Malay PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1.03 Sri Lankan rupees per share, a decline of 55.0% from 2.29 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 7.2 million rupees, a decrease of 55.1% from 16.0 million rupees in the prior-year period.
The normalized profit margin declined to 24.6% from 34.2% in the year-earlier period.
Total revenue declined 37.6% on an annual basis to 29.3 million rupees from 46.9 million rupees, and total operating expenses decreased 19.0% on an annual basis to 17.2 million rupees from 21.2 million rupees.
Reported net income declined 42.6% on an annual basis to 13.6 million rupees, or 1.95 rupees per share, from 23.7 million rupees, or 3.39 rupees per share.
As of Feb. 6, US$1 was equivalent to 132.96 Sri Lankan rupees.
