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Byke Hospitality profit misses consensus by 47.3% in fiscal Q1

Byke Hospitality Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 56 Indian paise per share, compared with the S&P Capital IQ consensus estimate of 1.06 rupees per share.

EPS declined year over year from 59 paise.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 22.4 million rupees, a decline from 23.5 million rupees in the prior-year period.

The normalized profit margin declined to 7.2% from 8.0% in the year-earlier period.

Total revenue rose 7.1% on an annual basis to 312.6 million rupees from 292.0 million rupees, and total operating expenses increased 9.1% on an annual basis to 272.2 million rupees from 249.4 million rupees.

Reported net income declined from the prior-year period to 28.4 million rupees, or 71 paise per share, from 29.8 million rupees, or 75 paise per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.