The firm reported earnings of 2.28 rupees per share for the quarter. The stock closed at 89 rupees, down one rupee on Monday.

In the year to March the group reported earnings of 1.86 billion rupees, partly helped by sale of the parent company stock to businessmen Dhammika Perera.

In the year to March the firm made capital gains of 1.1 billion rupees.

The firm said in a statement that underlying businesses made pre-tax profits of 1.24 billion rupees with gloves bringing in 728 million rupees and plantations 515 million rupees.

Kelani Valley Plantations, which grows rubber had brought profits, while Talawakelle Tea Estates, which grows tea has lost money amid higher wages, chairman Mohan Pandithage said in a statement.

Managing director Mahesha Ranasoma said the first three quarters were good and the last quarter was challenging.

"By the last quarter of the year, rubber prices bottomed out and commenced an upward trend," he said.

"The last quarter also saw rapid increases in fuel and electricity costs which when combined exerted severe pressure once more on margins.

Sri Lanka's rupee fell from 110 to around 130 rupees pressured by bank credit taken by state enterprises to manipulate energy prices. Energy prices were then raised and the rupee allowed to partially float.

"This was further exacerbated by the fact that our traditional markets in the Eurozone and America were slowing down, which directly and indirectly affect our business growth and profitability," Ranasoma said.

"[I]t seemed that low cost products were once again gaining ground in these markets against the higher quality gloves manufactured by DPL."

Depreciation helps increase rupee revenues of exporters and helps firms increase profits temporarily by cutting real wages of workers.

The firm's rubber plantations provide a hedge against changing raw rubber prices, with the plantation making profits when higher commodity prices erode margins of finished products and vice versa.

Dipped Products Thailand, medical glove unit had seen revenues rise 14 percent but it lost 112 million rupees amid a thinner margin and demand for synthetic gloves, Ranasoma said.

Revenues at ICOGUANTI S.p.A, its Italy-based marketing arm had risen 16 percent to 3.92 billion rupees and profits rose to 244 million from 171 million last year the firm said.