Browns Capital PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 36 Sri Lankan cents per share, a gain from 1 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 494.7 million rupees, an increase from 16.3 million rupees in the year-earlier period.
The normalized profit margin declined to negative 16.8% from 0.9% in the year-earlier period.
Total revenue declined 6.4% year over year to 1.65 billion rupees from 1.76 billion rupees, and total operating expenses increased year over year to 1.61 billion rupees from 1.57 billion rupees.
Reported net income totaled a loss of 206.2 million rupees, or a loss of 15 cents per share, compared to income of 29.6 million rupees, or 2 cents per share, in the year-earlier period.
As of Feb. 11, US$1 was equivalent to 132.80 Sri Lankan rupees.
