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Good Hope fiscal Q2 profit climbs 38.7% YOY

Good Hope PLC said its normalized net income for the fiscal second quarter ended Sept. 30 was 2.28 Sri Lankan rupees per share, a gain of 38.8% from 1.64 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.6 million rupees, a gain of 38.7% from 11.3 million rupees in the prior-year period.

The normalized profit margin climbed to 33.3% from 27.3% in the year-earlier period.

Total revenue increased 13.7% on an annual basis to 46.9 million rupees from 41.2 million rupees, and total operating expenses decreased 5.7% year over year to 21.9 million rupees from 23.2 million rupees.

Reported net income grew 38.4% from the prior-year period to 20.7 million rupees, or 3.02 rupees per share, from 15.0 million rupees, or 2.18 rupees per share.

As of Nov. 14, US$1 was equivalent to 131 Sri Lankan rupees.