Nuwara Eliya Hotels Co. PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 18.21 Sri Lankan rupees per share, a decline of 25.2% from 24.33 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 39.8 million rupees, a decrease of 25.1% from 53.2 million rupees in the year-earlier period.
The normalized profit margin fell to 19.7% from 25.0% in the year-earlier period.
Total revenue decreased 5.2% on an annual basis to 201.6 million rupees from 212.6 million rupees, and total operating expenses totaled 142.6 million rupees, compared with 141.6 million rupees in the year-earlier period.
Reported net income fell 19.1% from the prior-year period to 55.5 million rupees, or 25.41 rupees per share, from 68.7 million rupees, or 31.42 rupees per share.
As of Feb. 10, US$1 was equivalent to 132.84 Sri Lankan rupees.
