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Dankotuwa Porcelain fiscal Q3 profit climbs YOY

Dankotuwa Porcelain PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 6 Sri Lankan cents per share, a gain of 37.4% from 4 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.0 million rupees, a gain from 3.5 million rupees in the prior-year period.

The normalized profit margin climbed to 1.6% from 0.5% in the year-earlier period.

Total revenue totaled 642.5 million rupees, compared with 637.8 million rupees in the prior-year period, and total operating expenses totaled 621.5 million rupees, compared with 616.1 million rupees in the prior-year period.

Reported net income came to a loss of 9.8 million rupees, or a loss of 6 cents per share, compared to income of 6.2 million rupees, or 8 cents per share, in the prior-year period.

As of Feb. 1, US$1 was equivalent to 144.06 Sri Lankan rupees.