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Abans Electricals fiscal Q3 profit climbs YOY

Abans Electricals PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 7.18 Sri Lankan rupees per share, a gain from 1.17 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 36.7 million rupees, a gain from 6.4 million rupees in the year-earlier period.

The normalized profit margin climbed to 3.6% from 0.9% in the year-earlier period.

Total revenue increased 49.0% on an annual basis to 1.02 billion rupees from 681.4 million rupees, and total operating expenses increased 40.7% on an annual basis to 952.8 million rupees from 677.4 million rupees.

Reported net income increased on an annual basis to 53.9 million rupees, or 10.54 rupees per share, from 162,400 rupees, or 3 cents per share.

As of Feb. 15, US$1 was equivalent to 144.09 Sri Lankan rupees.