trending Market Intelligence /marketintelligence/en/news-insights/trending/ytBG3TESniOMSver49M-NA2 content esgSubNav
In This List

Lanka Milk Foods fiscal Q3 profit falls YOY


MediaTalk | Season 2
Ep.8 The Masters Returns

Case Study

A Sports League Maximizes Revenue from Media Rights


Next in Tech Episode 162: The cloud native journey


Claim it back: Maximizing your tax refund

Lanka Milk Foods fiscal Q3 profit falls YOY

Lanka Milk Foods (CWE) PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 7 Sri Lankan cents per share, a decrease of 95.2% from 1.53 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 3.1 million rupees, a decline of 94.9% from 61.2 million rupees in the prior-year period.

The normalized profit margin dropped to 0.2% from 5.5% in the year-earlier period.

Total revenue rose 24.6% on an annual basis to 1.38 billion rupees from 1.11 billion rupees, and total operating expenses grew 37.9% year over year to 1.37 billion rupees from 990.7 million rupees.

Reported net income fell 97.0% on an annual basis to 3.0 million rupees, or 7 cents per share, from 97.8 million rupees, or 2.45 rupees per share.

As of Feb. 12, US$1 was equivalent to 144.09 Sri Lankan rupees.