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Ceylon Cold Stores fiscal Q2 profit climbs 88.2% YOY

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Ceylon Cold Stores fiscal Q2 profit climbs 88.2% YOY

Ceylon Cold Stores PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 2.78 Sri Lankan rupees per share, an increase of 88.0% from 1.48 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 264.2 million rupees, an increase of 88.2% from 140.4 million rupees in the year-earlier period.

The normalized profit margin climbed to 4.0% from 2.5% in the year-earlier period.

Total revenue grew 17.6% on an annual basis to 6.54 billion rupees from 5.57 billion rupees, and total operating expenses rose 15.1% from the prior-year period to 6.11 billion rupees from 5.31 billion rupees.

Reported net income grew on an annual basis to 308.3 million rupees, or 3.24 rupees per share, from 153.0 million rupees, or 1.61 rupees per share.

As of Oct. 24, US$1 was equivalent to 130.85 Sri Lankan rupees.