Sunshine Holdings PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 61 Sri Lankan cents per share, a decrease of 21.4% from 78 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 83.2 million rupees, a decline of 21.2% from 105.6 million rupees in the prior-year period.

The normalized profit margin fell to 1.9% from 2.6% in the year-earlier period.

Total revenue climbed 5.3% year over year to 4.29 billion rupees from 4.07 billion rupees, and total operating expenses grew 6.0% from the prior-year period to 3.79 billion rupees from 3.58 billion rupees.

Reported net income increased 69.3% on an annual basis to 175.3 million rupees, or 1.29 rupees per share, from 103.6 million rupees, or 76 cents per share.

As of Feb. 11, US$1 was equivalent to 144.06 Sri Lankan rupees.