Dolphin Hotels PLC said its normalized net income for the fiscal first quarter ended June 30 came to 41 Sri Lankan cents per share, compared with a loss of 42 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.9 million rupees, compared with a loss of 13.3 million rupees in the year-earlier period.

The normalized profit margin rose to 7.2% from negative 17.3% in the year-earlier period.

Total revenue rose year over year to 178.1 million rupees from 77.1 million rupees, and total operating expenses rose 65.2% year over year to 154.8 million rupees from 93.7 million rupees.

Reported net income totaled 15.6 million rupees, or 49 cents per share, compared to a loss of 18.8 million rupees, or a loss of 59 cents per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to 130.19 Sri Lankan rupees.