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Namunukula Plantations fiscal Q3 profit falls YOY

Namunukula Plantations PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 93 Sri Lankan cents per share, a decrease of 59.4% from 2.29 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 22.0 million rupees, a decline of 59.4% from 54.2 million rupees in the prior-year period.

The normalized profit margin fell to 5.4% from 9.3% in the year-earlier period.

Total revenue fell 32.6% on an annual basis to 393.2 million rupees from 583.7 million rupees, and total operating expenses decreased 22.5% on an annual basis to 398.4 million rupees from 513.9 million rupees.

Reported net income declined 60.7% on an annual basis to 33.2 million rupees, or 1.40 rupees per share, from 84.5 million rupees, or 3.56 rupees per share.

As of Feb. 12, US$1 was equivalent to 132.72 Sri Lankan rupees.