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United Motors Lanka fiscal Q3 profit climbs YOY

United Motors Lanka PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 2.88 Sri Lankan rupees per share, a gain from 2.81 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 290.4 million rupees, a gain from 283.4 million rupees in the prior-year period.

The normalized profit margin fell to 8.4% from 11.1% in the year-earlier period.

Total revenue grew 35.8% on an annual basis to 3.47 billion rupees from 2.55 billion rupees, and total operating expenses climbed 41.3% year over year to 3.02 billion rupees from 2.14 billion rupees.

Reported net income fell year over year to 321.9 million rupees, or 3.19 rupees per share, from 333.4 million rupees, or 3.30 rupees per share.

As of Feb. 12, US$1 was equivalent to 132.72 Sri Lankan rupees.