Abans Electricals PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1.17 Sri Lankan rupees per share, a decrease of 74.7% from 4.63 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 6.4 million rupees, a decline of 73.2% from 23.7 million rupees in the year-earlier period.
The normalized profit margin dropped to 0.9% from 3.0% in the year-earlier period.
Total revenue declined 13.5% on an annual basis to 681.4 million rupees from 787.7 million rupees, and total operating expenses fell 9.8% on an annual basis to 677.4 million rupees from 750.7 million rupees.
Reported net income fell 99.4% on an annual basis to 162,400 rupees, or 3 cents per share, from 26.8 million rupees, or 5.24 rupees per share.
As of Feb. 6, US$1 was equivalent to 132.96 Sri Lankan rupees.
