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Selinsing fiscal Q2 profit falls YOY

Selinsing PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 3.92 Sri Lankan rupees per share, a decrease of 9.4% from 4.33 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 27.2 million rupees, a decline of 9.3% from 30.0 million rupees in the prior-year period.

The normalized profit margin climbed to 62.5% from 38.0% in the year-earlier period.

Total revenue fell 11.3% year over year to 70.1 million rupees from 79.0 million rupees, and total operating expenses decreased 14.5% from the prior-year period to 26.5 million rupees from 31.0 million rupees.

Reported net income fell 5.3% from the prior-year period to 36.6 million rupees, or 5.27 rupees per share, from 38.6 million rupees, or 5.57 rupees per share.

As of Nov. 13, US$1 was equivalent to 142.05 Sri Lankan rupees.