Ceylon Cold Stores PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to 2.74 Sri Lankan rupees per share, a gain of 87.2% from 1.46 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 260.3 million rupees, a gain of 87.6% from 138.7 million rupees in the year-earlier period.

The normalized profit margin climbed to 3.9% from 2.4% in the year-earlier period.

Total revenue rose 18.5% year over year to 6.71 billion rupees from 5.66 billion rupees, and total operating expenses rose 15.9% year over year to 6.29 billion rupees from 5.42 billion rupees.

Reported net income grew 86.8% year over year to 299.3 million rupees, or 3.15 rupees per share, from 160.2 million rupees, or 1.69 rupees per share.

As of July 22, US$1 was equivalent to 130.28 Sri Lankan rupees.