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Hikkaduwa Beach Resort fiscal Q2 profit falls YOY

4980957 said its normalized net income for the fiscal second quarter ended Sept. 30 came to 3 Sri Lankan cents per share, a decline of 76.5% from 11 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 1.5 million rupees, a decline of 77.1% from 6.5 million rupees in the year-earlier period.

The normalized profit margin dropped to 2.7% from 11.7% in the year-earlier period.

Total revenue totaled 55.1 million rupees, compared with 55.2 million rupees in the prior-year period, and total operating expenses rose 19.9% on an annual basis to 53.3 million rupees from 44.5 million rupees.

Reported net income fell 77.1% from the prior-year period to 2.4 million rupees, or 4 cents per share, from 10.3 million rupees, or 18 cents per share.

s of Nov. 17, US$1 was equivalent to 131 Sri Lankan rupees.Hikkaduwa Beach Resort PLC

4980957 said its normalized net income for the fiscal second quarter ended Sept. 30 came to 3 Sri Lankan cents per share, a decline of 76.5% from 11 cents per share in the year-earlier period.