trending Market Intelligence /marketintelligence/en/news-insights/trending/aDh0QLy0Y-NT2kHOFSF2Yg2 content esgSubNav
In This List

Udapussellawa Plantations swings to loss in Q2

Blog

Capital Markets Activity Infographic: SPAC Volume Rises in Q3; Equity Issuance Drops but Remains Strong in Several Sectors

Blog

Asset Owner Perspectives on Climate Change Measurement, Management, and Reporting in Australia

Blog

How Financial Institutions are Managing Exposure to U.S. Municipals

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure


Udapussellawa Plantations swings to loss in Q2

Udapussellawa Plantations PLC said its second-quarter normalized net income came to a loss of 13 Sri Lankan cents per share, compared with 2.46 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 a loss of 2.6 million rupees, compared with income of 48.2 million rupees in the prior-year period.

The normalized profit margin declined to negative 0.5% from 11.4% in the year-earlier period.

Total revenue grew 30.6% year over year to 551.1 million rupees from 421.9 million rupees, and total operating expenses rose 61.7% on an annual basis to 550.3 million rupees from 340.2 million rupees.

Reported net income totaled a loss of 6.0 million rupees, or a loss of 31 cents per share, compared to income of 67.3 million rupees, or 3.43 rupees per share, in the year-earlier period.

As of Aug. 10, US$1 was equivalent to 133.78 Sri Lankan rupees.