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Tulip Star Hotels fiscal Q2 loss narrows YOY

Tulip Star Hotels Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 1.51 Indian rupees per share, compared with a loss of 1.62 rupees 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 6.9 million rupees, compared with a loss of 7.4 million rupees in the year-earlier period.

Reported net income came to a loss of 11.1 million rupees, or a loss of 2.41 rupees per share, compared to a loss of 11.9 million rupees, or a loss of 2.59 rupees per share, in the year-earlier period.

As of Oct. 30, US$1 was equivalent to 65.41 Indian rupees.