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Landmarc Leisure Q2 loss narrows YOY

Landmarc Leisure Corp. Ltd. said its second-quarter normalized net income came to a loss of 3.5 million rupees, compared with a loss of 4.8 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 221.0% from negative 170.4% in the year-earlier period.

Total revenue declined 43.1% year over year to 1.6 million rupees from 2.8 million rupees, and total operating expenses fell 28.3% on an annual basis to 7.4 million rupees from 10.3 million rupees.

Reported net income totaled a loss of 5.9 million rupees, or a loss of 1 paise per share, compared to a loss of 8.4 million rupees, or a loss of 1 paise per share, in the prior-year period.

As of Aug. 7, US$1 was equivalent to 63.74 Indian rupees.