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Kotmale Holdings fiscal Q1 profit climbs YOY

Kotmale Holdings PLC said its normalized net income for the fiscal first quarter ended June 30 came to 56 Sri Lankan cents per share, a gain from 54 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 17.5 million rupees, a gain from 17.2 million rupees in the year-earlier period.

The normalized profit margin fell to 4.8% from 4.9% in the year-earlier period.

Total revenue rose on an annual basis to 363.9 million rupees from 353.5 million rupees, and total operating expenses grew on an annual basis to 347.0 million rupees from 332.9 million rupees.

Reported net income declined from the prior-year period to 19.7 million rupees, or 63 cents per share, from 20.5 million rupees, or 65 cents per share.

As of Aug. 14, US$1 was equivalent to 130.18 Sri Lankan rupees.