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Indo-Malay fiscal Q2 profit climbs 8.1% YOY

Indo-Malay PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 2.32 Sri Lankan rupees per share, a gain of 8.3% from 2.15 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.3 million rupees, a gain of 8.1% from 15.0 million rupees in the prior-year period.

The normalized profit margin increased to 34.7% from 33.6% in the year-earlier period.

Total revenue climbed on an annual basis to 46.9 million rupees from 44.8 million rupees, and total operating expenses totaled 20.9 million rupees, compared with 20.7 million rupees in the prior-year period.

Reported net income rose 12.6% from the prior-year period to 21.1 million rupees, or 3.01 rupees per share, from 18.7 million rupees, or 2.67 rupees per share.

As of Nov. 14, US$1 was equivalent to 131 Sri Lankan rupees.