TeleMasters Holdings Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 107,850 rand, a decline of 88.7% from 953,320 rand in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin fell to 0.4% from 4.0% in the year-earlier period.
Total revenue increased on an annual basis to 24.5 million rand from 24.1 million rand, and total operating expenses climbed 7.6% from the prior-year period to 24.4 million rand from 22.7 million rand.
Reported net income declined 87.5% from the prior-year period to 128,210 rand, or 0 cents per share, from 1.0 million rand, or 2 cents per share.
As of April 14, US$1 was equivalent to 14.51 rand.
