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Hunter & Co. fiscal Q2 profit climbs YOY

Hunter & Co. PLC said its normalized net income for the fiscal second quarter ended Sept. 30 was 5.44 Sri Lankan rupees per share, a gain from 1.61 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 28.0 million rupees, a gain from 8.3 million rupees in the prior-year period.

The normalized profit margin rose to 4.1% from 1.3% in the year-earlier period.

Total revenue grew 8.2% on an annual basis to 687.3 million rupees from 635.5 million rupees, and total operating expenses grew on an annual basis to 623.5 million rupees from 617.2 million rupees.

Reported net income increased on an annual basis to 48.1 million rupees, or 9.35 rupees per share, from 9.9 million rupees, or 1.92 rupees per share.

As of Nov. 16, US$1 was equivalent to 142.22 Sri Lankan rupees.