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New Mauritius Hotels fiscal Q1 profit falls YOY

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.