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Hunas Falls Hotels fiscal Q2 profit climbs 56.5% YOY

Hunas Falls Hotels PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 1.35 Sri Lankan rupees per share, a gain of 57.1% from 86 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 7.6 million rupees, a gain of 56.5% from 4.8 million rupees in the prior-year period.

The normalized profit margin rose to 14.8% from 11.3% in the year-earlier period.

Total revenue rose 19.9% year over year to 51.4 million rupees from 42.8 million rupees, and total operating expenses rose 11.3% year over year to 39.5 million rupees from 35.5 million rupees.

Reported net income increased 77.8% year over year to 12.1 million rupees, or 2.16 rupees per share, from 6.8 million rupees, or 1.21 rupees per share.

As of Oct. 29, US$1 was equivalent to 141.08 Sri Lankan rupees.