Hunter & Co. PLC said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 3.51 Sri Lankan rupees per share, compared with a loss of 1.87 rupees per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 18.1 million rupees, compared with a loss of 9.6 million rupees in the prior-year period.
The normalized profit margin dropped to negative 4.2% from negative 1.9% in the year-earlier period.
Total revenue decreased 13.9% on an annual basis to 427.2 million rupees from 496.1 million rupees, and total operating expenses decreased 8.7% from the prior-year period to 458.8 million rupees from 502.8 million rupees.
Reported net income came to a loss of 35.5 million rupees, or a loss of 6.89 rupees per share, compared to a loss of 18.3 million rupees, or a loss of 3.55 rupees per share, in the year-earlier period.
As of Aug. 15, US$1 was equivalent to 130.18 Sri Lankan rupees.
