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Sunshine Holdings fiscal Q2 profit falls YOY

Sunshine Holdings PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 91 Sri Lankan cents per share, a decline from 95 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 123.5 million rupees, a decline from 128.1 million rupees in the prior-year period.

The normalized profit margin declined to 2.8% from 3.1% in the year-earlier period.

Total revenue rose on an annual basis to 4.34 billion rupees from 4.17 billion rupees, and total operating expenses totaled 3.85 billion rupees, compared with 3.83 billion rupees in the year-earlier period.

Reported net income rose 8.2% on an annual basis to 171.1 million rupees, or 1.26 rupees per share, from 158.1 million rupees, or 1.17 rupees per share.

As of Nov. 3, US$1 was equivalent to 141.08 Sri Lankan rupees.