Indo-Malay PLC said its normalized net income for the fiscal first quarter ended June 30 was 1.94 Sri Lankan rupees per share, a decrease of 81.1% from 10.28 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 13.6 million rupees, a decrease of 81.1% from 71.9 million rupees in the year-earlier period.
The normalized profit margin dropped to 34.8% from 53.6% in the year-earlier period.
Total revenue declined 70.8% on an annual basis to 39.1 million rupees from 134.1 million rupees, and total operating expenses fell 8.7% from the prior-year period to 17.4 million rupees from 19.0 million rupees.
Reported net income declined 82.5% on an annual basis to 20.4 million rupees, or 2.92 rupees per share, from 116.6 million rupees, or 16.66 rupees per share.
As of Aug. 14, US$1 was equivalent to 130.18 Sri Lankan rupees.
