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Eden Hotel Lanka fiscal Q1 loss widens YOY

Eden Hotel Lanka PLC said its normalized net income for the fiscal first quarter ended June 30 was a loss of 1.47 Sri Lankan rupees per share, compared with a loss of 22 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 a loss of 77.7 million rupees, compared with a loss of 11.7 million rupees in the prior-year period.

The normalized profit margin declined to negative 78.6% from negative 28.7% in the year-earlier period.

Total revenue climbed year over year to 98.9 million rupees from 40.9 million rupees, and total operating expenses climbed from the prior-year period to 147.9 million rupees from 59.7 million rupees.

Reported net income came to a loss of 124.3 million rupees, or a loss of 2.35 rupees per share, compared to a loss of 19.5 million rupees, or a loss of 37 cents per share, in the year-earlier period.

As of Aug. 15, US$1 was equivalent to 130.18 Sri Lankan rupees.