C. W. Mackie PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to 73 Sri Lankan cents per share, a decrease of 19.3% from 91 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 26.4 million rupees, a decrease of 19.5% from 32.7 million rupees in the year-earlier period.
The normalized profit margin dropped to 1.4% from 2.2% in the year-earlier period.
Total revenue rose 28.5% year over year to 1.88 billion rupees from 1.46 billion rupees, and total operating expenses climbed 30.8% year over year to 1.82 billion rupees from 1.39 billion rupees.
Reported net income decreased 23.3% on an annual basis to 29.9 million rupees, or 83 cents per share, from 39.0 million rupees, or 1.08 rupees per share.
As of Aug. 4, US$1 was equivalent to 130.22 Sri Lankan rupees.
