Ceylon Hotels Corp. PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 17 Sri Lankan cents per share, compared with a loss of 6 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 31.5 million rupees, compared with a loss of 10.5 million rupees in the year-earlier period.
The normalized profit margin declined to negative 4.8% from negative 3.4% in the year-earlier period.
Total revenue increased 5.8% on an annual basis to 325.3 million rupees from 307.4 million rupees, and total operating expenses fell 17.0% on an annual basis to 230.7 million rupees from 278.0 million rupees.
Reported net income came to 48.3 million rupees, or 27 cents per share, compared to a loss of 17.0 million rupees, or a loss of 9 cents per share, in the year-earlier period.
As of Nov. 14, US$1 was equivalent to 131 Sri Lankan rupees.
