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Bukit Darah swings to profit in fiscal Q2

Bukit Darah PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 3.94 Sri Lankan rupees per share, compared with a loss of 7.94 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 405.4 million rupees, compared with a loss of 809.1 million rupees in the prior-year period.

The normalized profit margin rose to 2.0% from negative 4.8% in the year-earlier period.

Total revenue grew 23.2% year over year to 20.59 billion rupees from 16.72 billion rupees, and total operating expenses grew 18.9% from the prior-year period to 18.10 billion rupees from 15.23 billion rupees.

Reported net income came to a loss of 47.3 million rupees, or a loss of 46 cents per share, compared to a loss of 1.08 billion rupees, or a loss of 10.60 rupees per share, in the year-earlier period.

As of Nov. 14, US$1 was equivalent to 131 Sri Lankan rupees.