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Autodrome fiscal Q2 profit climbs YOY

Autodrome PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 69 Sri Lankan cents per share, a gain from 33 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 8.3 million rupees, an increase from 4.0 million rupees in the year-earlier period.

The normalized profit margin climbed to 4.9% from 2.8% in the year-earlier period.

Total revenue increased 18.6% on an annual basis to 169.3 million rupees from 142.8 million rupees, and total operating expenses rose 11.9% on an annual basis to 155.7 million rupees from 139.2 million rupees.

Reported net income rose year over year to 9.0 million rupees, or 75 cents per share, from 4.0 million rupees, or 33 cents per share.

As of Oct. 20, US$1 was equivalent to 130.72 Sri Lankan rupees.