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James Hotels fiscal Q3 loss widens 17.5% YOY

James Hotels Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 4.01 Indian rupees per share, compared with a loss of 3.41 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 32.1 million rupees, compared with a loss of 27.3 million rupees in the year-earlier period.

The normalized profit margin declined to negative 61.0% from negative 47.8% in the year-earlier period.

Total revenue fell 8.0% on an annual basis to 52.5 million rupees from 57.1 million rupees, and total operating expenses fell on an annual basis to 64.9 million rupees from 68.1 million rupees.

Reported net income came to a loss of 51.3 million rupees, or a loss of 6.41 rupees per share, compared to a loss of 43.6 million rupees, or a loss of 5.45 rupees per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 68.19 Indian rupees.