Lucky Lanka Milk Processing Co. PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 3 Sri Lankan cents per share, compared with 9 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 6.3 million rupees, compared with income of 132,500 rupees in the year-earlier period.
The normalized profit margin dropped to negative 4.1% from 0.1% in the year-earlier period.
Total revenue climbed year over year to 219.6 million rupees from 211.5 million rupees, and total operating expenses rose 12.2% from the prior-year period to 218.7 million rupees from 195.0 million rupees.
Reported net income came to a loss of 10.3 million rupees, or a loss of 5 cents per share, compared to a loss of 1.3 million rupees, or a loss of 88 cents per share, in the prior-year period.
As of March 18, US$1 was equivalent to 133.01 Sri Lankan rupees.
