Kelsey Developments PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 1.98 Sri Lankan rupees per share, compared with a loss of 9 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 34.6 million rupees, compared with a loss of 1.5 million rupees in the year-earlier period.
Total revenue decreased 90.4% on an annual basis to 1.2 million rupees from 12.9 million rupees, and total operating expenses fell 19.6% on an annual basis to 19.0 million rupees from 23.6 million rupees.
Reported net income came to a loss of 50.7 million rupees, or a loss of 2.91 rupees per share, compared to a loss of 2.4 million rupees, or a loss of 14 cents per share, in the prior-year period.
As of Feb. 12, US$1 was equivalent to 132.72 Sri Lankan rupees.
