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Wednesday, September 28, 2022

Sri Lanka’s Haycarb March net up on forex gains

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ECONOMYNEXT –   Sri Lanka’s active Carbon manufacturer, Haycarb PLc net profit grew 169 percent to 1.7 billion rupees in the March 2022 quarter from a year ago due to higher finance income with rupee depreciating in the first quarter of the year.

The group reported earnings per share of 5.80 rupees in the first quarter of 2022. The share traded 19 percent down at 53 rupees on Monday.

Gross profits grew 9 percent to 1.9 billion rupees, as revenue rose by 48 percent to 9.8 billion rupees in the quarter and the cost of the sales went up by 63 percent to 7.9 billion rupees.

Other Operating income increased by a fast 1,970 percent to 163 million rupees while selling and distribution costs decreased by 34 percent from a year earlier to 65 million rupees.

Administration expenses increased by 82 percent to 1.4 billion rupees.

Net finance Income grew 977 percent to 1.7 billion rupees as Finance income rose 1,734 percent to 1.9 billion rupees while finance costs falling 605 percent to 258 million rupees from a year earlier.

(Colombo/June 4/2022)

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