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Apollo Sindoori Hotels fiscal Q4 profit climbs 38.1% YOY

Apollo Sindoori Hotels Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 5.78 Indian rupees per share, a gain of 38.1% from 4.18 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 7.5 million rupees, an increase of 38.1% from 5.4 million rupees in the year-earlier period.

The normalized profit margin rose to 3.9% from 3.0% in the year-earlier period.

Total revenue rose 49.4% on an annual basis to 274.0 million rupees from 183.3 million rupees, and total operating expenses increased 49.5% from the prior-year period to 260.0 million rupees from 173.9 million rupees.

Reported net income grew 36.7% from the prior-year period to 8.1 million rupees, or 6.23 rupees per share, from 5.9 million rupees, or 4.56 rupees per share.

For the year, the company's normalized net income totaled 16.49 rupees per share, an increase of 12.4% from 14.67 rupees per share in the prior year.

Normalized net income was 21.4 million rupees, an increase of 12.4% from 19.1 million rupees in the prior year.

Full-year total revenue rose 41.5% year over year to 963.7 million rupees from 681.1 million rupees, and total operating expenses rose 42.7% on an annual basis to 930.7 million rupees from 652.2 million rupees.

The company said reported net income increased 13.1% on an annual basis to 23.1 million rupees, or 17.78 rupees per share, in the full year, from 20.4 million rupees, or 15.72 rupees per share.

As of May 29, US$1 was equivalent to 63.76 Indian rupees.