Sathosa Motors PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 8.41 Sri Lankan rupees per share, a decrease of 27.7% from 11.62 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 50.7 million rupees, a decline of 27.7% from 70.1 million rupees in the year-earlier period.
The normalized profit margin fell to 5.8% from 7.4% in the year-earlier period.
Total revenue decreased 7.1% on an annual basis to 881.5 million rupees from 948.4 million rupees, and total operating expenses grew 6.6% year over year to 808.9 million rupees from 758.9 million rupees.
Reported net income declined 36.3% from the prior-year period to 55.5 million rupees, or 9.20 rupees per share, from 87.2 million rupees, or 14.45 rupees per share.
As of Feb. 5, US$1 was equivalent to 132.28 Sri Lankan rupees.
