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Regnis (Lanka) Q1 profit climbs YOY

Regnis (Lanka) PLC said its first-quarter normalized net income amounted to 5.31 Sri Lankan rupees per share, an increase from 2.33 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 59.8 million rupees, a gain from 26.2 million rupees in the prior-year period.

The normalized profit margin increased to 5.7% from 2.9% in the year-earlier period.

Total revenue rose 16.6% on an annual basis to 1.05 billion rupees from 902.9 million rupees, and total operating expenses climbed 11.9% on an annual basis to 955.7 million rupees from 854.0 million rupees.

Reported net income increased year over year to 73.1 million rupees, or 6.49 rupees per share, from 33.8 million rupees, or 3.00 rupees per share.

As of May 7, US$1 was equivalent to 133.60 Sri Lankan rupees.