Diversified conglomerate, Hemas Holdings PLC (Hemas) posted a net profit of Rs. 771.6 million for the quarter ended March 31, 2014 (4Q’15), down 17.6 percent from a year ago due to a heavy increase in selling expenditure and the fall in other operating incomes, the interim results released the Colombo Stock Exchange showed.
The Earnings Per Share (EPS) dropped to Rs.1.50 from Rs.1.82 a year ago.
However the top line grew by 18 percent year-on-year (yoy) to Rs.8.9 billion while the cost of sales too rose by a slightly higher rate of 20 percent yoy to Rs.5.9 billion leaving with a gross profit of Rs.2.9 billion, up 16 percent yoy.
Notably the other operating incomes declined by a hefty 56 percent yoy to Rs.354.2 million.
Further selling and distribution costs rose by 40 percent yoy to Rs.911.8 million while the administrative expenses rose by 14 percent yoy to Rs.1.16 billion.
Meanwhile the finance cost for the 4Q’15 declined by 33.3 percent yoy to Rs.117.3 million.
Meanwhile for the financial year ended March 31, 2015 (FY 2015) the group posted a net profit of Rs.1.9 billion, down 20 percent.
The EPS declined to Rs.3.74, down from Rs.4.68 a year ago.
For the FY 2015 too, the top line grew by 19 percent to Rs.32.5 billion while the cost of sales increased by 18 percent to Rs.21. 1 billion.