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Raigam Wayamba lterns fiscal Q3 profit falls YOY

Raigam Wayamba Salterns PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 3 Sri Lankan cents per share, compared with 3 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.7 million rupees, a decline of 13.6% from 7.7 million rupees in the year-earlier period.

The normalized profit margin increased to 6.7% from 6.5% in the year-earlier period.

Total revenue decreased 15.9% year over year to 100.1 million rupees from 119.0 million rupees, and total operating expenses declined 15.8% on an annual basis to 89.4 million rupees from 106.2 million rupees.

Reported net income totaled 10.7 million rupees, or 4 cents per share, compared to 12.4 million rupees, or 4 cents per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 132.72 Sri Lankan rupees.