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Nicco Parks & Resorts fiscal Q2 profit climbs 41.5% YOY

Nicco Parks & Resorts Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 8 Indian paise per share, a gain of 46.7% from 5 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.6 million rupees, a gain of 41.5% from 2.6 million rupees in the prior-year period.

The normalized profit margin rose to 5.2% from 3.4% in the year-earlier period.

Total revenue fell 8.5% year over year to 69.1 million rupees from 75.5 million rupees, and total operating expenses decreased 8.8% year over year to 67.2 million rupees from 73.7 million rupees.

Reported net income increased 28.6% year over year to 3.6 million rupees, or 8 paise per share, from 2.8 million rupees, or 6 paise per share.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.