Hayleys Fibre PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 46 Sri Lankan cents per share, a decline of 26.7% from 62 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.7 million rupees, a decline of 26.6% from 5.0 million rupees in the year-earlier period.

The normalized profit margin declined to 2.1% from 4.1% in the year-earlier period.

Total revenue climbed 52.5% year over year to 185.3 million rupees from 121.5 million rupees, and total operating expenses rose 55.9% year over year to 177.1 million rupees from 113.6 million rupees.

Reported net income fell 28.7% from the prior-year period to 4.6 million rupees, or 57 cents per share, from 6.4 million rupees, or 80 cents per share.

As of Oct. 30, US$1 was equivalent to 130.90 Sri Lankan rupees.