trending Market Intelligence /marketintelligence/en/news-insights/trending/pnMowWwRyr-JawiIZjdCig2 content esgSubNav
In This List

Eastern Merchants fiscal Q1 loss widens YOY

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Eastern Merchants fiscal Q1 loss widens YOY

Eastern Merchants PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 11 Sri Lankan cents per share, compared with a loss of 4 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 12.3 million rupees, compared with a loss of 4.4 million rupees in the prior-year period.

The normalized profit margin fell to negative 4.3% from negative 1.2% in the year-earlier period.

Total revenue fell 41.3% on an annual basis to 220.8 million rupees from 376.3 million rupees, and total operating expenses fell 36.9% from the prior-year period to 238.2 million rupees from 377.7 million rupees.

Reported net income came to a loss of 21.8 million rupees, or a loss of 19 cents per share, compared to a loss of 8.4 million rupees, or a loss of 7 cents per share, in the year-earlier period.

As of Aug. 15, US$1 was equivalent to 130.18 Sri Lankan rupees.