Royal Orchid Hotel (Thailand) PCL said its first-quarter normalized net income was 33.8 million baht, a gain from 275,250 baht in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to 13.6% from 0.1% in the year-earlier period.
Total revenue increased 22.2% on an annual basis to 248.1 million baht from 203.1 million baht, and total operating expenses declined year over year to 193.7 million baht from 202.1 million baht.
Reported net income increased on an annual basis to 43.8 million baht, or 47 satang per share, from 913,000 baht, or 1 satang per share.
As of May 7, US$1 was equivalent to 33.59 baht.
