Bairaha Farms PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.92 Sri Lankan rupees per share, a decline of 13.9% from 2.23 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 30.7 million rupees, a decline of 14.0% from 35.7 million rupees in the prior-year period.
The normalized profit margin declined to 3.7% from 4.5% in the year-earlier period.
Total revenue climbed on an annual basis to 831.3 million rupees from 796.1 million rupees, and total operating expenses climbed 5.7% on an annual basis to 780.4 million rupees from 738.0 million rupees.
Reported net income declined 18.2% from the prior-year period to 42.7 million rupees, or 2.67 rupees per share, from 52.2 million rupees, or 3.26 rupees per share.
As of Aug. 15, US$1 was equivalent to 130.18 Sri Lankan rupees.
