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Lanka Century Investments posts fiscal Q4 profit

Lanka Century Investments PLC said its normalized net income for the fiscal fourth quarter ended March 31 came to 77.5 million rupees.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 2.7%.

Total revenue came to 2.07 billion rupees, and total operating expenses came to 2.22 billion rupees.

Reported net income came to a loss of 29.6 million rupees, or a loss of 9 cents per share.

For the year, the company's normalized net income totaled 43 cents per share, a gain from 9 cents per share in the prior year.

Normalized net income was 150.1 million rupees, an increase from 30.5 million rupees in the prior year.

Full-year total revenue increased 9.4% year over year to 9.27 billion rupees from 8.47 billion rupees, and total operating expenses increased 8.1% on an annual basis to 9.08 billion rupees from 8.40 billion rupees.

The company said reported net income came to 91.6 million rupees, or 26 cents per share, in the full year, compared with a loss of 571.4 million rupees, or a loss of 1.64 rupees per share, the prior year.

As of July 10, US$1 was equivalent to 133.49 Sri Lankan rupees.