Maskeliya Plantations PLC said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 2.13 Sri Lankan rupees per share, compared with a loss of 33 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 114.8 million rupees, compared with a loss of 17.7 million rupees in the prior-year period.
The normalized profit margin dropped to negative 13.7% from negative 1.9% in the year-earlier period.
Total revenue fell 9.0% on an annual basis to 835.6 million rupees from 918.2 million rupees, and total operating expenses increased 5.5% year over year to 999.0 million rupees from 946.8 million rupees.
Reported net income came to a loss of 95.3 million rupees, or a loss of 1.77 rupees per share, compared to income of 77.9 million rupees, or 1.44 rupees per share, in the prior-year period.
For the year, the company's normalized net income totaled a loss of 3.16 rupees per share, compared with a loss of 2.30 rupees per share in the prior year.
Normalized net income was a loss of 170.3 million rupees, compared with a loss of 124.0 million rupees in the prior year.
Full-year total revenue increased year over year to 3.53 billion rupees from 3.42 billion rupees, and total operating expenses increased on an annual basis to 3.70 billion rupees from 3.56 billion rupees.
The company said reported net income totaled a loss of 184.1 million rupees, or a loss of 3.41 rupees per share, in the full year, compared with a loss of 92.2 million rupees, or a loss of 1.71 rupees per share, the prior year.
As of June 8, US$1 was equivalent to 133.99 Sri Lankan rupees.
