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CT Holdings fiscal Q2 profit falls YOY

CT Holdings PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 1.15 Sri Lankan rupees per share, a decrease of 14.6% from 1.34 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 209.4 million rupees, a decline of 14.8% from 245.7 million rupees in the year-earlier period.

The normalized profit margin fell to 1.3% from 1.8% in the year-earlier period.

Total revenue rose 19.4% year over year to 16.29 billion rupees from 13.65 billion rupees, and total operating expenses rose 23.5% on an annual basis to 15.87 billion rupees from 12.85 billion rupees.

Reported net income decreased 47.1% from the prior-year period to 136.9 million rupees, or 75 cents per share, from 259.1 million rupees, or 1.41 rupees per share.

As of Nov. 19, US$1 was equivalent to 131.07 Sri Lankan rupees.