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Blue Diamonds Jewellery Worldwide fiscal Q3 loss narrows YOY

Blue Diamonds Jewellery Worldwide PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 1 Sri Lankan cents per share, compared with a loss of 2 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 a loss of 3.4 million rupees, compared with a loss of 5.1 million rupees in the prior-year period.

The normalized profit margin increased to negative 17.4% from negative 49.3% in the year-earlier period.

Total revenue climbed 89.0% on an annual basis to 19.5 million rupees from 10.3 million rupees, and total operating expenses increased 22.2% on an annual basis to 25.3 million rupees from 20.7 million rupees.

Reported net income came to a loss of 5.4 million rupees, or a loss of 2 cents per share, compared to a loss of 8.1 million rupees, or a loss of 3 cents per share, in the prior-year period.

As of Feb. 16, US$1 was equivalent to 133.00 Sri Lankan rupees.