Renuka City Hotels PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 8.31 Sri Lankan rupees per share, a decline of 51.6% from 17.17 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 58.2 million rupees, a decline of 51.6% from 120.2 million rupees in the year-earlier period.
The normalized profit margin dropped to 86.3% from 192.5% in the year-earlier period.
Total revenue climbed 7.9% year over year to 67.4 million rupees from 62.4 million rupees.
Reported net income fell 52.0% year over year to 91.6 million rupees, or 13.08 rupees per share, from 190.8 million rupees, or 27.26 rupees per share.
As of Feb. 11, US$1 was equivalent to 144.06 Sri Lankan rupees.