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Dolphin Hotels fiscal Q3 profit falls YOY

Dolphin Hotels PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 77 Sri Lankan cents per share, a decrease of 8.7% from 84 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 24.3 million rupees, a decrease of 8.7% from 26.7 million rupees in the year-earlier period.

The normalized profit margin declined to 11.3% from 14.9% in the year-earlier period.

Total revenue grew 20.6% year over year to 215.9 million rupees from 179.0 million rupees, and total operating expenses climbed 20.0% year over year to 166.6 million rupees from 138.9 million rupees.

Reported net income decreased 10.0% from the prior-year period to 36.7 million rupees, or 1.16 rupees per share, from 40.8 million rupees, or 1.29 rupees per share.

As of Feb. 9, US$1 was equivalent to 132.80 Sri Lankan rupees.