trending Market Intelligence /marketintelligence/en/news-insights/trending/MJ8M5Ytjp_ygiCZc8EAYjg2 content esgSubNav
In This List

HVA Foods fiscal Q4 loss narrows YOY

Blog

Capital Markets Activity Infographic: SPAC Volume Rises in Q3; Equity Issuance Drops but Remains Strong in Several Sectors

Blog

Asset Owner Perspectives on Climate Change Measurement, Management, and Reporting in Australia

Blog

How Financial Institutions are Managing Exposure to U.S. Municipals

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure


HVA Foods fiscal Q4 loss narrows YOY

HVA Foods PLC said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 1 Sri Lankan cents per share, compared with a loss of 7 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 836,440 rupees, compared with a loss of 5.0 million rupees in the prior-year period.

The normalized profit margin increased to negative 0.5% from negative 2.9% in the year-earlier period.

Total revenue increased 5.6% year over year to 178.5 million rupees from 169.0 million rupees, and total operating expenses decreased 6.7% from the prior-year period to 171.9 million rupees from 184.2 million rupees.

Reported net income totaled 5.8 million rupees, or 7 cents per share, compared to a loss of 12.8 million rupees, or a loss of 19 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 5 cents per share, compared with a loss of 9 cents per share in the prior year.

Normalized net income was a loss of 3.4 million rupees, compared with a loss of 6.0 million rupees in the prior year.

Full-year total revenue increased 13.9% on an annual basis to 824.1 million rupees from 723.7 million rupees, and total operating expenses increased 11.0% year over year to 807.7 million rupees from 727.8 million rupees.

The company said reported net income came to a loss of 2.4 million rupees, or a loss of 4 cents per share, in the full year, compared with a loss of 17.4 million rupees, or a loss of 26 cents per share, the prior year.

As of Aug. 7, US$1 was equivalent to 133.75 Sri Lankan rupees.