Feb 17, 2013 (LBO) - Profits at Sri Lanka's Distilleries group, which has interests, in alcohol, insurance, telecom and plantations surged 438 percent to 1.4 billion rupees in the December 2102 quarter from a year earlier in the absence of one-off losses, interim accounts showed.
The group reported earnings of 4.91 rupees for the quarter. For the nine months to December the group reported earnings of 3.35 rupees per share on profits that fell 17 percent to 1.0 billion rupees.
At the core alcohol firm, gross revenues with state taxes rose 3.58 percent to 13.1 billion rupees.
Net revenues rose 15.3 percent to 4.5 billion rupees and expenses rose at a slower 13.7 percent to 2.25 billion rupees, allowing gross profits to rise at a faster 16.9 percent to 2.3 billion rupees.
At group level finance expenses 155 percent to 437 million rupees.
In the nine months to December the group said beverage brought profits of 5.8 billion rupees up from 5.4 billion rupees, plantations brought 128 million rupees up from 75 million.
Revenues at its telecoms division fell to 3.0 billion rupees from 3.3 billion. The segment lost 144 million rupees compared to a profit of 188 million rupees a year earlier.