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Bairaha Farms fiscal Q4 profit climbs YOY

Bairaha Farms PLC said its normalized net income for the fiscal fourth quarter ended March 31 came to 4.66 Sri Lankan rupees per share, a gain from 2.25 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 74.6 million rupees, an increase from 36.0 million rupees in the year-earlier period.

The normalized profit margin rose to 8.0% from 4.7% in the year-earlier period.

Total revenue grew 21.6% year over year to 927.3 million rupees from 762.7 million rupees, and total operating expenses climbed 14.0% on an annual basis to 800.9 million rupees from 702.6 million rupees.

Reported net income grew 78.0% year over year to 95.4 million rupees, or 5.96 rupees per share, from 53.6 million rupees, or 3.35 rupees per share.

For the year, the company's normalized net income totaled 7.53 rupees per share, a gain of 22.0% from 6.18 rupees per share in the prior year.

Normalized net income was 120.5 million rupees, an increase of 22.0% from 98.8 million rupees in the prior year.

Full-year total revenue grew 9.9% on an annual basis to 3.36 billion rupees from 3.05 billion rupees, and total operating expenses rose 9.2% on an annual basis to 3.15 billion rupees from 2.88 billion rupees.

The company said reported net income increased 15.7% on an annual basis to 159.6 million rupees, or 9.97 rupees per share, in the full year, from 137.8 million rupees, or 8.62 rupees per share.

As of June 29, US$1 was equivalent to 133.93 Sri Lankan rupees.