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CT Holdings fiscal Q1 profit falls YOY

CT Holdings PLC said its normalized net income for the fiscal first quarter ended June 30 was 33 Sri Lankan cents per share, a decrease of 50.5% from 68 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 61.1 million rupees, a decline of 51.0% from 124.7 million rupees in the year-earlier period.

The normalized profit margin rose to 0.8% from 0.8% in the year-earlier period.

Total revenue increased 7.9% on an annual basis to 16.07 billion rupees from 14.90 billion rupees, and total operating expenses climbed 9.6% year over year to 15.60 billion rupees from 14.23 billion rupees.

Reported net income totaled a loss of 164.5 million rupees, or a loss of 90 cents per share, compared to income of 88.8 million rupees, or 48 cents per share, in the year-earlier period.

As of Aug. 19, US$1 was equivalent to 130.18 Sri Lankan rupees.