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Bairaha Farms fiscal Q2 profit climbs YOY

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Bairaha Farms fiscal Q2 profit climbs YOY

Bairaha Farms PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 6.33 Sri Lankan rupees per share, an increase from 39 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 101.3 million rupees, an increase from 6.3 million rupees in the year-earlier period.

The normalized profit margin increased to 10.8% from 0.8% in the year-earlier period.

Total revenue increased 19.2% on an annual basis to 942.3 million rupees from 790.7 million rupees, and total operating expenses came to 766.9 million rupees, compared with 774.4 million rupees in the prior-year period.

Reported net income rose on an annual basis to 143.4 million rupees, or 8.96 rupees per share, from 8.1 million rupees, or 51 cents per share.

As of Oct. 20, US$1 was equivalent to 141.02 Sri Lankan rupees.