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Teejay Lanka fiscal Q4 profit climbs 43.3% YOY

Teejay Lanka PLC said its normalized net income for the fiscal fourth quarter ended March 31 came to 51 Sri Lankan cents per share, a gain of 42.0% from 36 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 337.6 million rupees, an increase of 43.3% from 235.6 million rupees in the prior-year period.

The normalized profit margin increased to 8.9% from 7.3% in the year-earlier period.

Total revenue grew 16.4% year over year to 3.78 billion rupees from 3.25 billion rupees, and total operating expenses grew 13.1% from the prior-year period to 3.29 billion rupees from 2.91 billion rupees.

Reported net income rose 46.2% year over year to 509.2 million rupees, or 77 cents per share, from 348.2 million rupees, or 53 cents per share.

For the year, the company's normalized net income totaled 1.30 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.90 rupees.

EPS rose 13.6% from 1.14 rupees in the prior year.

Normalized net income was 856.8 million rupees, an increase of 13.6% from 754.2 million rupees in the prior year.

Full-year total revenue increased 7.5% from the prior-year period to 13.68 billion rupees from 12.72 billion rupees, and total operating expenses rose 7.0% year over year to 12.47 billion rupees from 11.65 billion rupees.

The company said reported net income increased 15.4% year over year to 1.33 billion rupees, or 2.02 rupees per share, in the full year, from 1.15 billion rupees, or 1.75 rupees per share.

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