trending Market Intelligence /marketintelligence/en/news-insights/trending/EVB_-7nISQNIo1BJewdPUQ2 content esgSubNav
In This List

Swadeshi Industrial Works fiscal Q1 profit falls YOY

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix


Swadeshi Industrial Works fiscal Q1 profit falls YOY

Swadeshi Industrial Works PLC said its normalized net income for the fiscal first quarter ended June 30 came to 6.83 Sri Lankan rupees per share, a decline of 90.4% from 71.24 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 892,550 rupees, a decline of 90.4% from 9.3 million rupees in the prior-year period.

The normalized profit margin fell to 0.1% from 1.6% in the year-earlier period.

Total revenue increased 5.9% year over year to 609.5 million rupees from 575.5 million rupees, and total operating expenses climbed 8.9% on an annual basis to 596.4 million rupees from 547.5 million rupees.

Reported net income decreased 86.9% year over year to 1.4 million rupees, or 10.93 rupees per share, from 10.9 million rupees, or 83.36 rupees per share.

As of Aug. 15, US$1 was equivalent to 130.18 Sri Lankan rupees.