Renuka Foods PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 23 Sri Lankan cents per share, a decrease of 52.8% from 49 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 21.8 million rupees, a decline of 53.0% from 46.5 million rupees in the prior-year period.
The normalized profit margin dropped to 1.3% from 3.2% in the year-earlier period.
Total revenue grew 17.0% year over year to 1.68 billion rupees from 1.43 billion rupees, and total operating expenses increased 13.4% from the prior-year period to 1.54 billion rupees from 1.36 billion rupees.
Reported net income rose 5.3% from the prior-year period to 66.8 million rupees, or 71 cents per share, from 63.4 million rupees, or 67 cents per share.
As of Feb. 6, US$1 was equivalent to 132.96 Sri Lankan rupees.
