trending Market Intelligence /marketintelligence/en/news-insights/trending/-iDx6KI3hQopC6MUGzvYLA2 content esgSubNav
In This List

Serendib Hotels fiscal Q3 profit falls YOY

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix


Serendib Hotels fiscal Q3 profit falls YOY

Serendib Hotels PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 23 Sri Lankan cents per share, a decrease of 32.3% from 35 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.1 million rupees, a decline of 31.8% from 38.2 million rupees in the year-earlier period.

The normalized profit margin declined to 6.4% from 10.3% in the year-earlier period.

Total revenue grew 9.1% on an annual basis to 405.5 million rupees from 371.7 million rupees, and total operating expenses increased 10.8% from the prior-year period to 317.8 million rupees from 286.7 million rupees.

Reported net income decreased 31.9% year over year to 49.0 million rupees, or 44 cents per share, from 72.0 million rupees, or 65 cents per share.

As of Feb. 5, US$1 was equivalent to 132.28 Sri Lankan rupees.