Agalawatte Plantations PLC said its normalized net income for the third quarter came to a loss of 3.43 Sri Lankan rupees per share, compared with a loss of 2.35 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 85.7 million rupees, compared with a loss of 58.7 million rupees in the year-earlier period.

The normalized profit margin declined to negative 19.2% from negative 11.4% in the year-earlier period.

Total revenue fell 13.1% on an annual basis to 445.8 million rupees from 513.0 million rupees, and total operating expenses declined 9.3% on an annual basis to 545.5 million rupees from 601.3 million rupees.

Reported net income totaled a loss of 142.4 million rupees, or a loss of 5.70 rupees per share, compared to a loss of 93.9 million rupees, or a loss of 3.76 rupees per share, in the prior-year period.

As of Nov. 17, US$1 was equivalent to 142.35 Sri Lankan rupees.