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Beruwala Resorts fiscal Q2 loss widens 38.7% YOY

Beruwala Resorts PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 3 Sri Lankan cents per share, compared with a loss of 2 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 a loss of 17.8 million rupees, compared with a loss of 12.8 million rupees in the prior-year period.

The normalized profit margin declined to negative 21.8% from negative 19.6% in the year-earlier period.

Total revenue climbed 24.6% on an annual basis to 81.6 million rupees from 65.5 million rupees, and total operating expenses climbed 8.1% year over year to 87.1 million rupees from 80.6 million rupees.

Reported net income came to a loss of 28.5 million rupees, or a loss of 5 cents per share, compared to a loss of 20.6 million rupees, or a loss of 3 cents per share, in the year-earlier period.

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