Lanka Milk Foods (CWE) PLC said its normalized net income for the fiscal second quarter ended Sept. 30 was 69 Sri Lankan cents per share, compared with a loss of 10 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 27.4 million rupees, compared with a loss of 4.0 million rupees in the prior-year period.
The normalized profit margin climbed to 2.7% from negative 0.3% in the year-earlier period.
Total revenue declined 30.1% year over year to 1.02 billion rupees from 1.46 billion rupees, and total operating expenses declined 32.8% on an annual basis to 959.3 million rupees from 1.43 billion rupees.
Reported net income totaled 45.5 million rupees, or 1.14 rupees per share, compared to a loss of 3.3 million rupees, or a loss of 8 cents per share, in the prior-year period.
As of Nov. 14, US$1 was equivalent to 131 Sri Lankan rupees.
