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Sun Ltd. fiscal Q3 profit climbs 59.6% YOY

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Sun Ltd. fiscal Q3 profit climbs 59.6% YOY

Sun Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 77 Mauritian cents per share, an increase of 30.5% from 59 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 98.0 million rupees, a gain of 59.6% from 61.4 million rupees in the year-earlier period.

The normalized profit margin climbed to 6.4% from 5.1% in the year-earlier period.

Total revenue climbed 27.3% on an annual basis to 1.54 billion rupees from 1.21 billion rupees, and total operating expenses rose 15.0% from the prior-year period to 1.26 billion rupees from 1.09 billion rupees.

Reported net income grew from the prior-year period to 85.3 million rupees, or 67 cents per share, from 84.3 million rupees, or 81 cents per share.

As of May 9, US$1 was equivalent to 34.96 Mauritian rupees.