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Sunshine Holdings fiscal Q1 profit climbs 9.9% YOY

Sunshine Holdings PLC said its normalized net income for the fiscal first quarter ended June 30 came to 63 Sri Lankan cents per share, an increase of 8.2% from 58 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 86.1 million rupees, a gain of 9.9% from 78.3 million rupees in the year-earlier period.

The normalized profit margin climbed to 2.1% from 2.0% in the year-earlier period.

Total revenue climbed on an annual basis to 4.18 billion rupees from 3.98 billion rupees, and total operating expenses rose 6.7% on an annual basis to 3.78 billion rupees from 3.54 billion rupees.

Reported net income rose 10.8% from the prior-year period to 162.4 million rupees, or 1.19 rupees per share, from 146.6 million rupees, or 1.09 rupees per share.

As of Aug. 14, US$1 was equivalent to 134.55 Sri Lankan rupees.