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Raigam Wayamba lterns fiscal Q2 profit climbs 39.1% YOY

Raigam Wayamba Salterns PLC said its normalized net income for the fiscal second quarter ended Sept. 30 was 4 Sri Lankan cents per share, a gain of 72.4% from 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.7 million rupees, a gain of 39.1% from 7.0 million rupees in the prior-year period.

The normalized profit margin rose to 9.5% from 7.1% in the year-earlier period.

Total revenue increased year over year to 101.5 million rupees from 97.5 million rupees, and total operating expenses totaled 86.9 million rupees, compared with 86.5 million rupees in the prior-year period.

Reported net income grew 5.8% year over year to 13.6 million rupees, or 5 cents per share, from 12.8 million rupees, or 4 cents per share.

As of Nov. 13, US$1 was equivalent to 142.05 Sri Lankan rupees.