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Teejay Lanka fiscal Q2 profit climbs 66.5% YOY

Teejay Lanka PLC said its normalized net income for the fiscal second quarter ended Sept. 30 was 45 Sri Lankan cents per share, an increase of 65.4% from 27 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 297.5 million rupees, an increase of 66.5% from 178.7 million rupees in the year-earlier period.

The normalized profit margin increased to 7.4% from 5.2% in the year-earlier period.

Total revenue rose 16.1% on an annual basis to 4.01 billion rupees from 3.46 billion rupees, and total operating expenses rose 11.1% from the prior-year period to 3.56 billion rupees from 3.21 billion rupees.

Reported net income rose 66.2% on an annual basis to 468.4 million rupees, or 71 cents per share, from 281.8 million rupees, or 43 cents per share.

As of Oct. 29, US$1 was equivalent to 141.08 Sri Lankan rupees.