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Fomento Resorts & Hotels fiscal Q3 profit climbs 7.6% YOY

Fomento Resorts & Hotels Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 2.55 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.71 rupees per share.

EPS climbed 7.7% year over year from 2.37 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 40.8 million rupees, an increase of 7.6% from 37.9 million rupees in the prior-year period.

The normalized profit margin climbed to 24.7% from 24.2% in the year-earlier period.

Total revenue grew 5.5% year over year to 165.2 million rupees from 156.6 million rupees, and total operating expenses climbed 6.7% on an annual basis to 113.2 million rupees from 106.1 million rupees.

Reported net income grew 15.2% year over year to 47.1 million rupees, or 2.95 rupees per share, from 40.9 million rupees, or 2.56 rupees per share.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.