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Odel PLC fiscal Q3 profit climbs YOY

Odel PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 28 Sri Lankan cents per share, an increase from 12 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 76.4 million rupees, a gain from 32.2 million rupees in the prior-year period.

The normalized profit margin increased to 5.4% from 2.3% in the year-earlier period.

Total revenue increased on an annual basis to 1.41 billion rupees from 1.38 billion rupees, and total operating expenses declined year over year to 1.27 billion rupees from 1.29 billion rupees.

Reported net income grew on an annual basis to 106.2 million rupees, or 39 cents per share, from 46.0 million rupees, or 17 cents per share.

As of Feb. 11, US$1 was equivalent to 132.80 Sri Lankan rupees.