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Beruwala Resorts fiscal Q1 loss widens YOY

Beruwala Resorts PLC said its normalized net income for the fiscal first quarter ended June 30 was a loss of 3 Sri Lankan cents per share, compared with a loss of 3 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 15.7 million rupees, compared with a loss of 15.5 million rupees in the prior-year period.

The normalized profit margin increased to negative 29.2% from negative 35.1% in the year-earlier period.

Total revenue climbed 21.2% year over year to 53.6 million rupees from 44.2 million rupees, and total operating expenses climbed 18.1% from the prior-year period to 74.0 million rupees from 62.6 million rupees.

Reported net income came to a loss of 25.1 million rupees, or a loss of 4 cents per share, compared to a loss of 24.8 million rupees, or a loss of 4 cents per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 130.18 Sri Lankan rupees.