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Renuka Foods fiscal Q1 profit climbs 22.1% YOY

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Renuka Foods fiscal Q1 profit climbs 22.1% YOY

Renuka Foods PLC said its normalized net income for the fiscal first quarter ended June 30 came to 16 Sri Lankan cents per share, an increase of 20.6% from 13 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 14.8 million rupees, an increase of 22.1% from 12.1 million rupees in the year-earlier period.

The normalized profit margin climbed to 1.0% from 0.8% in the year-earlier period.

Total revenue grew year over year to 1.49 billion rupees from 1.47 billion rupees, and total operating expenses totaled 1.38 billion rupees, compared with 1.39 billion rupees in the prior-year period.

Reported net income rose 41.7% year over year to 50.5 million rupees, or 53 cents per share, from 35.7 million rupees, or 38 cents per share.

As of Aug. 5, US$1 was equivalent to 133.51 Sri Lankan rupees.