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.
