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Ceylon Tobacco Q1 profit climbs 26.1% YOY

Ceylon Tobacco Co. PLC said its first-quarter normalized net income was 14.40 Sri Lankan rupees per share, an increase of 26.0% from 11.43 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 2.70 billion rupees, a gain of 26.1% from 2.14 billion rupees in the prior-year period.

The normalized profit margin rose to 42.5% from 40.8% in the year-earlier period.

Total revenue grew 21.2% year over year to 6.35 billion rupees from 5.24 billion rupees, and total operating expenses climbed 11.0% year over year to 2.14 billion rupees from 1.93 billion rupees.

Reported net income grew 23.0% from the prior-year period to 2.49 billion rupees, or 13.29 rupees per share, from 2.02 billion rupees, or 10.82 rupees per share.

As of May 8, US$1 was equivalent to 133.35 Sri Lankan rupees.