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Taprobane Holdings fiscal Q1 loss narrows YOY

Ambeon Capital PLC said its normalized net income for the fiscal first quarter ended June 30 was a loss of 6.0 million rupees, compared with a loss of 13.0 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 1.6% from negative 6.6% in the year-earlier period.

Total revenue rose on an annual basis to 2.42 billion rupees from 196.3 million rupees, and total operating expenses rose on an annual basis to 2.22 billion rupees from 99.0 million rupees.

Reported net income increased 14.8% year over year to 51.7 million rupees, or 5 cents per share, from 45.1 million rupees, or 6 cents per share.

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