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Jindal Hotels fiscal Q4 profit falls YOY

Jindal Hotels Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 83 Indian paise per share, a decrease of 26.0% from 1.12 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.0 million rupees, a decrease of 26.3% from 6.7 million rupees in the prior-year period.

The normalized profit margin dropped to 4.4% from 6.9% in the year-earlier period.

Total revenue rose 15.0% year over year to 112.8 million rupees from 98.2 million rupees, and total operating expenses climbed 12.0% from the prior-year period to 87.4 million rupees from 78.1 million rupees.

Reported net income decreased 25.3% year over year to 5.3 million rupees, or 89 paise per share, from 7.1 million rupees, or 1.18 rupees per share.

For the year, the company's normalized net income totaled 2.48 rupees per share, a decline of 20.9% from 3.13 rupees per share in the prior year.

Normalized net income was 14.9 million rupees, a fall of 20.9% from 18.8 million rupees in the prior year.

Full-year total revenue increased 5.8% from the prior-year period to 317.5 million rupees from 300.1 million rupees, and total operating expenses rose 6.9% on an annual basis to 245.4 million rupees from 229.5 million rupees.

The company said reported net income fell 8.7% year over year to 15.8 million rupees, or 2.63 rupees per share, in the full year, from 17.3 million rupees, or 2.88 rupees per share.

As of May 26, US$1 was equivalent to 63.95 Indian rupees.