Good Hope PLC said its normalized net income for the fiscal first quarter ended June 30 came to 3.36 Sri Lankan rupees per share, a decrease of 68.7% from 10.74 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 23.0 million rupees, a decrease of 68.8% from 73.8 million rupees in the year-earlier period.
The normalized profit margin dropped to 40.4% from 54.1% in the year-earlier period.
Total revenue decreased 58.2% on an annual basis to 57.0 million rupees from 136.5 million rupees, and total operating expenses rose 9.4% from the prior-year period to 20.2 million rupees from 18.4 million rupees.
Reported net income fell 76.5% on an annual basis to 27.2 million rupees, or 3.96 rupees per share, from 115.5 million rupees, or 16.81 rupees per share.
As of Aug. 14, US$1 was equivalent to 130.18 Sri Lankan rupees.
