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Sathosa Motors fiscal Q4 profit climbs 42.4% YOY

Sathosa Motors PLC said its normalized net income for the fiscal fourth quarter ended March 31 was 14.73 Sri Lankan rupees per share, an increase of 42.4% from 10.35 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 88.9 million rupees, a gain of 42.4% from 62.4 million rupees in the year-earlier period.

The normalized profit margin increased to 8.2% from 7.1% in the year-earlier period.

Total revenue rose 23.3% year over year to 1.08 billion rupees from 873.9 million rupees, and total operating expenses increased 17.8% on an annual basis to 953.6 million rupees from 809.2 million rupees.

Reported net income increased 63.9% on an annual basis to 106.9 million rupees, or 17.72 rupees per share, from 65.2 million rupees, or 10.81 rupees per share.

For the year, the company's normalized net income totaled 37.15 rupees per share, a decrease from 37.84 rupees per share in the prior year.

Normalized net income was 224.2 million rupees, a decline from 228.3 million rupees in the prior year.

Full-year total revenue increased 15.2% from the prior-year period to 3.50 billion rupees from 3.04 billion rupees, and total operating expenses rose 19.2% on an annual basis to 3.13 billion rupees from 2.63 billion rupees.

The company said reported net income came to 261.4 million rupees, or 43.32 rupees per share, in the full year, compared with 260.0 million rupees, or 43.09 rupees per share, the prior year.

As of July 15, US$1 was equivalent to 133.74 Sri Lankan rupees.