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Teejay Lanka fiscal Q3 profit climbs 23.8% YOY

Teejay Lanka PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 36 Sri Lankan cents per share, an increase of 22.9% from 30 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 239.9 million rupees, an increase of 23.8% from 193.8 million rupees in the prior-year period.

The normalized profit margin climbed to 6.4% from 5.7% in the year-earlier period.

Total revenue rose 11.6% on an annual basis to 3.77 billion rupees from 3.38 billion rupees, and total operating expenses rose 9.6% on an annual basis to 3.41 billion rupees from 3.11 billion rupees.

Reported net income rose 24.8% year over year to 376.1 million rupees, or 57 cents per share, from 301.4 million rupees, or 46 cents per share.

As of Jan. 29, US$1 was equivalent to 132.26 Sri Lankan rupees.