trending Market Intelligence /marketintelligence/en/news-insights/trending/URMYq-FCk38T41TonZ5bZQ2 content esgSubNav
In This List

Balangoda Plantations swings to loss in Q1

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021


Balangoda Plantations swings to loss in Q1

Balangoda Plantations PLC said its normalized net income for the first quarter amounted to a loss of 3.18 Sri Lankan rupees per share, compared with 12 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 a loss of 75.2 million rupees, compared with income of 2.9 million rupees in the year-earlier period.

The normalized profit margin dropped to negative 13.3% from 0.4% in the year-earlier period.

Total revenue decreased 23.0% on an annual basis to 564.3 million rupees from 732.4 million rupees, and total operating expenses decreased 6.0% on an annual basis to 676.9 million rupees from 720.5 million rupees.

Reported net income totaled a loss of 102.4 million rupees, or a loss of 4.33 rupees per share, compared to income of 23.2 million rupees, or 98 cents per share, in the prior-year period.

As of May 12, US$1 was equivalent to 133.63 Sri Lankan rupees.