New Mauritius Hotels Ltd said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to 60 Mauritian cents per share, a decrease of 19.0% from 74 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 288.7 million rupees, a decline of 19.0% from 356.6 million rupees in the year-earlier period.
The normalized profit margin fell to 10.6% from 13.7% in the year-earlier period.
Total revenue grew year over year to 2.72 billion rupees from 2.60 billion rupees, and total operating expenses rose 15.2% from the prior-year period to 2.18 billion rupees from 1.89 billion rupees.
Reported net income fell 17.6% on an annual basis to 438.9 million rupees, or 91 cents per share, from 532.5 million rupees, or 1.10 rupees per share.
As of April 30, US$1 was equivalent to 34.50 Mauritian rupees.
