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Abans Electricals fiscal Q4 profit climbs YOY

Abans Electricals PLC said its normalized net income for the fiscal fourth quarter ended March 31 came to 5.20 Sri Lankan rupees per share, a gain from 1.21 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 26.6 million rupees, an increase from 6.2 million rupees in the prior-year period.

The normalized profit margin climbed to 3.7% from 0.9% in the year-earlier period.

Total revenue climbed year over year to 710.4 million rupees from 693.1 million rupees, and total operating expenses decreased year over year to 673.1 million rupees from 683.9 million rupees.

Reported net income rose year over year to 51.9 million rupees, or 10.15 rupees per share, from 24.3 million rupees, or 4.76 rupees per share.

For the year, the company's normalized net income totaled 11.84 rupees per share, a decrease of 6.5% from 12.66 rupees per share in the prior year.

Normalized net income was 60.5 million rupees, a decline of 6.5% from 64.7 million rupees in the prior year.

Full-year total revenue fell 14.8% from the prior-year period to 2.73 billion rupees from 3.21 billion rupees, and total operating expenses decreased 13.2% on an annual basis to 2.66 billion rupees from 3.06 billion rupees.

The company said reported net income declined year over year to 96.2 million rupees, or 18.82 rupees per share, in the full year, from 100.3 million rupees, or 19.63 rupees per share.

As of Aug. 10, US$1 was equivalent to 133.78 Sri Lankan rupees.