Keells Food Products PLC said its normalized net income for the fiscal fourth quarter ended March 31 was 2.32 Sri Lankan rupees per share, an increase from 65 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 59.2 million rupees, an increase from 16.5 million rupees in the prior-year period.

The normalized profit margin increased to 8.7% from 3.0% in the year-earlier period.

Total revenue grew 23.9% year over year to 679.7 million rupees from 548.5 million rupees, and total operating expenses climbed 12.6% year over year to 585.8 million rupees from 520.2 million rupees.

Reported net income increased 33.6% year over year to 79.1 million rupees, or 3.10 rupees per share, from 59.2 million rupees, or 2.32 rupees per share.

For the year, the company's normalized net income totaled 8.11 rupees per share, an increase from 3.11 rupees per share in the prior year.

Normalized net income was 206.8 million rupees, a rise from 79.4 million rupees in the prior year.

Full-year total revenue rose 14.8% on an annual basis to 2.62 billion rupees from 2.28 billion rupees, and total operating expenses rose on an annual basis to 2.28 billion rupees from 2.17 billion rupees.

The company said reported net income increased year over year to 261.3 million rupees, or 10.25 rupees per share, in the full year, from 467,390 rupees, or 2 cents per share.

As of May 21, US$1 was equivalent to 133.64 Sri Lankan rupees.