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CT Holdings swings to loss in fiscal Q3

CT Holdings PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 18 Sri Lankan cents per share, compared with 1.16 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 a loss of 32.8 million rupees, compared with income of 211.9 million rupees in the prior-year period.

The normalized profit margin declined to negative 0.2% from 1.4% in the year-earlier period.

Total revenue decreased year over year to 15.37 billion rupees from 15.67 billion rupees, and total operating expenses totaled 15.01 billion rupees, compared with 14.91 billion rupees in the prior-year period.

Reported net income came to a loss of 117.0 million rupees, or a loss of 64 cents per share, compared to income of 201.5 million rupees, or 1.11 rupees per share, in the prior-year period.

As of Feb. 18, US$1 was equivalent to 132.85 Sri Lankan rupees.