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Advani Hotels & Resorts (India) fiscal Q3 profit climbs 47.9% YOY

Advani Hotels & Resorts (India) Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 50 Indian paise per share, a gain of 47.2% from 34 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 23.0 million rupees, a gain of 47.9% from 15.6 million rupees in the prior-year period.

The normalized profit margin climbed to 16.7% from 14.0% in the year-earlier period.

Total revenue rose 24.5% year over year to 138.3 million rupees from 111.1 million rupees, and total operating expenses climbed 15.4% from the prior-year period to 98.6 million rupees from 85.4 million rupees.

Reported net income increased 30.3% from the prior-year period to 32.5 million rupees, or 70 paise per share, from 24.9 million rupees, or 54 paise per share.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.