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Kotmale Holdings fiscal Q2 profit climbs 94.5% YOY

Kotmale Holdings PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 68 Sri Lankan cents per share, an increase of 98.2% from 34 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 21.2 million rupees, an increase of 94.5% from 10.9 million rupees in the prior-year period.

The normalized profit margin increased to 5.6% from 3.4% in the year-earlier period.

Total revenue rose 17.9% on an annual basis to 376.1 million rupees from 319.0 million rupees, and total operating expenses climbed 14.3% from the prior-year period to 355.1 million rupees from 310.8 million rupees.

Reported net income increased from the prior-year period to 23.8 million rupees, or 76 cents per share, from 9.6 million rupees, or 30 cents per share.

As of Nov. 17, US$1 was equivalent to 131 Sri Lankan rupees.