trending Market Intelligence /marketintelligence/en/news-insights/trending/lFKVCsCL9E5KStw07fLCIA2 content esgSubNav
In This List

Hapugastenne Plantations Q2 loss narrows YOY

Podcast

Next in Tech | Episode 66: Connected vehicles in transition

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten


Hapugastenne Plantations Q2 loss narrows YOY

Hapugastenne Plantations PLC said its normalized net income for the second quarter amounted to a loss of 25 Sri Lankan cents per share, compared with a loss of 55 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 a loss of 11.6 million rupees, compared with a loss of 25.5 million rupees in the prior-year period.

The normalized profit margin climbed to negative 1.3% from negative 2.5% in the year-earlier period.

Total revenue fell 9.7% year over year to 919.6 million rupees from 1.02 billion rupees, and total operating expenses decreased 12.0% from the prior-year period to 911.4 million rupees from 1.04 billion rupees.

Reported net income came to a loss of 19.0 million rupees, or a loss of 41 cents per share, compared to a loss of 46.5 million rupees, or a loss of 1 rupee per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to 145.44 Sri Lankan rupees.