Kegalle Plantations PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.54 Sri Lankan rupees per share, a decline of 49.8% from 3.07 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 38.6 million rupees, a decrease of 49.8% from 76.8 million rupees in the year-earlier period.
The normalized profit margin declined to 8.8% from 12.7% in the year-earlier period.
Total revenue decreased 27.1% on an annual basis to 440.8 million rupees from 604.7 million rupees, and total operating expenses decreased 10.1% from the prior-year period to 434.8 million rupees from 483.7 million rupees.
Reported net income declined 49.7% year over year to 55.8 million rupees, or 2.23 rupees per share, from 110.8 million rupees, or 4.43 rupees per share.
As of Feb. 12, US$1 was equivalent to 132.72 Sri Lankan rupees.
