Kegalle Plantations PLC said its normalized net income for the fiscal fourth quarter ended March 31 was 92 Sri Lankan cents per share, a decrease of 61.9% from 2.40 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 22.9 million rupees, a decrease of 61.9% from 60.1 million rupees in the prior-year period.
The normalized profit margin fell to 4.7% from 10.4% in the year-earlier period.
Total revenue decreased 20.3% on an annual basis to 460.6 million rupees from 577.6 million rupees, and total operating expenses grew from the prior-year period to 485.2 million rupees from 476.1 million rupees.
Reported net income declined 38.1% year over year to 64.4 million rupees, or 2.58 rupees per share, from 104.0 million rupees, or 4.16 rupees per share.
For the year, the company's normalized net income totaled 5.53 rupees per share, a decline of 52.2% from 11.58 rupees per share in the prior year.
Normalized net income was 138.4 million rupees, a fall of 52.2% from 289.5 million rupees in the prior year.
Full-year total revenue fell 16.2% year over year to 2.02 billion rupees from 2.41 billion rupees, and total operating expenses declined year over year to 1.99 billion rupees from 2.09 billion rupees.
The company said reported net income decreased 46.7% on an annual basis to 229.0 million rupees, or 9.16 rupees per share, in the full year, from 429.6 million rupees, or 17.18 rupees per share.
As of June 8, US$1 was equivalent to 133.99 Sri Lankan rupees.
