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Indo-Malay fiscal Q2 profit falls YOY

Indo-Malay PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 1.78 Sri Lankan rupees per share, a decline of 23.5% from 2.32 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 12.4 million rupees, a decline of 23.5% from 16.3 million rupees in the year-earlier period.

The normalized profit margin climbed to 62.5% from 34.7% in the year-earlier period.

Total revenue decreased 19.8% year over year to 37.6 million rupees from 46.9 million rupees, and total operating expenses fell 15.7% from the prior-year period to 17.6 million rupees from 20.9 million rupees.

Reported net income grew 10.3% from the prior-year period to 23.2 million rupees, or 3.32 rupees per share, from 21.1 million rupees, or 3.01 rupees per share.

As of Nov. 13, US$1 was equivalent to 142.05 Sri Lankan rupees.