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Abans Electricals fiscal Q2 profit climbs 35.1% YOY

Abans Electricals PLC said its normalized net income for the fiscal second quarter ended Sept. 30 was 5.18 Sri Lankan rupees per share, an increase of 34.9% from 3.84 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 26.5 million rupees, a gain of 35.1% from 19.6 million rupees in the prior-year period.

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

Total revenue rose 32.0% year over year to 875.3 million rupees from 663.1 million rupees, and total operating expenses increased 31.0% year over year to 830.9 million rupees from 634.2 million rupees.

Reported net income rose 28.8% on an annual basis to 40.4 million rupees, or 7.90 rupees per share, from 31.4 million rupees, or 6.14 rupees per share.

As of Nov. 13, US$1 was equivalent to 142.05 Sri Lankan rupees.