Good Hope PLC said its normalized net income for the fiscal first quarter ended June 30 came to 1.95 Sri Lankan rupees per share, a decline of 41.9% from 3.36 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 13.4 million rupees, a decrease of 41.9% from 23.0 million rupees in the prior-year period.

The normalized profit margin increased to 62.5% from 40.4% in the year-earlier period.

Total revenue decreased 25.7% on an annual basis to 42.4 million rupees from 57.0 million rupees, and total operating expenses grew from the prior-year period to 21.0 million rupees from 20.2 million rupees.

Reported net income grew 62.3% year over year to 44.1 million rupees, or 6.42 rupees per share, from 27.2 million rupees, or 3.96 rupees per share.

As of Aug. 7, US$1 was equivalent to 133.75 Sri Lankan rupees.