Good Hope PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 1.78 Sri Lankan rupees per share, a decline of 21.9% from 2.28 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.2 million rupees, a decrease of 22.1% from 15.6 million rupees in the year-earlier period.

The normalized profit margin rose to 62.5% from 33.3% in the year-earlier period.

Total revenue fell 20.9% on an annual basis to 37.1 million rupees from 46.9 million rupees, and total operating expenses fell 19.5% year over year to 17.6 million rupees from 21.9 million rupees.

Reported net income declined 49.4% year over year to 10.5 million rupees, or 1.53 rupees per share, from 20.7 million rupees, or 3.02 rupees per share.

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