Blue Diamonds Jewellery Worldwide PLC said its normalized net income for the fiscal first quarter ended June 30 was a loss of 3 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 7.5 million rupees, compared with a loss of 4.2 million rupees in the year-earlier period.
The normalized profit margin declined to negative 138.8% from negative 41.9% in the year-earlier period.
Total revenue decreased 45.5% year over year to 5.4 million rupees from 9.9 million rupees, and total operating expenses declined 6.9% year over year to 18.7 million rupees from 20.0 million rupees.
Reported net income came to a loss of 12.0 million rupees, or a loss of 5 cents per share, compared to a loss of 6.9 million rupees, or a loss of 3 cents per share, in the year-earlier period.
As of Aug. 15, US$1 was equivalent to 130.18 Sri Lankan rupees.
