Sunshine Holdings PLC said its normalized net income for the fiscal fourth quarter ended March 31 was 1 Sri Lankan cents per share, a decline of 97.4% from 41 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.5 million rupees, a decline of 97.3% from 55.5 million rupees in the year-earlier period.
The normalized profit margin declined to 0.0% from 1.4% in the year-earlier period.
Total revenue rose year over year to 4.11 billion rupees from 3.98 billion rupees, and total operating expenses grew 11.7% from the prior-year period to 3.99 billion rupees from 3.57 billion rupees.
Reported net income declined 55.4% year over year to 75.8 million rupees, or 56 cents per share, from 169.8 million rupees, or 1.26 rupees per share.
For the year, the company's normalized net income totaled 2.32 rupees per share, a decrease of 8.3% from 2.53 rupees per share in the prior year.
Normalized net income was 313.6 million rupees, a decline of 8.2% from 341.7 million rupees in the prior year.
Full-year total revenue increased 11.1% on an annual basis to 16.33 billion rupees from 14.70 billion rupees, and total operating expenses increased 13.5% year over year to 14.94 billion rupees from 13.16 billion rupees.
The company said reported net income declined 19.1% year over year to 484.0 million rupees, or 3.58 rupees per share, in the full year, from 598.6 million rupees, or 4.43 rupees per share.
As of June 8, US$1 was equivalent to 133.99 Sri Lankan rupees.
