Ceylon Tobacco Co. PLC said its third-quarter normalized net income came to 24.55 Sri Lankan rupees per share, an increase of 33.5% from 18.39 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 4.60 billion rupees, an increase of 33.6% from 3.44 billion rupees in the prior-year period.

The normalized profit margin increased to 49.8% from 47.5% in the year-earlier period.

Total revenue rose 27.4% year over year to 9.23 billion rupees from 7.25 billion rupees, and total operating expenses increased 12.9% from the prior-year period to 2.14 billion rupees from 1.90 billion rupees.

Reported net income grew 35.8% on an annual basis to 4.47 billion rupees, or 23.87 rupees per share, from 3.29 billion rupees, or 17.58 rupees per share.

As of Nov. 11, US$1 was equivalent to 147.72 Sri Lankan rupees.