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Ceylon Tobacco Q2 profit climbs YOY

Ceylon Tobacco Co. PLC said its normalized net income for the second quarter came to 17.13 Sri Lankan rupees per share, a gain from 16.60 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.21 billion rupees, an increase from 3.11 billion rupees in the year-earlier period.

The normalized profit margin dropped to 42.4% from 47.5% in the year-earlier period.

Total revenue rose 15.5% on an annual basis to 7.56 billion rupees from 6.54 billion rupees, and total operating expenses rose 53.2% year over year to 2.61 billion rupees from 1.71 billion rupees.

Reported net income increased from the prior-year period to 3.05 billion rupees, or 16.28 rupees per share, from 3.02 billion rupees, or 16.12 rupees per share.

As of Aug. 10, US$1 was equivalent to 145.63 Sri Lankan rupees.