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Good Hope fiscal Q2 profit falls YOY

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.