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Jindal Hotels fiscal Q3 profit falls YOY

Jindal Hotels Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 94 Indian paise per share, a decrease of 12.8% from 1.08 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 5.6 million rupees, a decrease of 13.0% from 6.5 million rupees in the year-earlier period.

The normalized profit margin dropped to 6.1% from 8.1% in the year-earlier period.

Total revenue climbed 16.4% year over year to 93.0 million rupees from 79.9 million rupees, and total operating expenses grew 13.7% year over year to 66.4 million rupees from 58.4 million rupees.

Reported net income declined 26.7% on an annual basis to 6.0 million rupees, or 1 rupee per share, from 8.1 million rupees, or 1.36 rupees per share.

As of Jan. 19, US$1 was equivalent to 67.70 Indian rupees.