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Abans Electricals fiscal Q2 profit climbs 42.5% YOY

Abans Electricals PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 3.84 Sri Lankan rupees per share, an increase of 42.4% from 2.69 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 19.6 million rupees, an increase of 42.5% from 13.8 million rupees in the year-earlier period.

The normalized profit margin increased to 3.0% from 1.8% in the year-earlier period.

Total revenue declined 15.4% on an annual basis to 663.1 million rupees from 783.9 million rupees, and total operating expenses declined 15.2% from the prior-year period to 634.2 million rupees from 747.9 million rupees.

Reported net income increased 53.2% on an annual basis to 31.4 million rupees, or 6.14 rupees per share, from 20.5 million rupees, or 4.01 rupees per share.

As of Nov. 17, US$1 was equivalent to 131 Sri Lankan rupees.