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Kalpitiya Beach Resort fiscal Q2 loss narrows YOY

Kalpitiya Beach Resort PLC said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 7 Sri Lankan cents per share, compared with a loss of 11 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 a loss of 11.1 million rupees, compared with a loss of 17.8 million rupees in the year-earlier period.

Reported net income came to a loss of 19.2 million rupees, or a loss of 12 cents per share, compared to a loss of 28.5 million rupees, or a loss of 18 cents per share, in the year-earlier period.

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