Royale Manor Hotels and Industries Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 14 Indian paise per share, a decline of 41.7% from 24 paise per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.7 million rupees, a decline of 42.8% from 4.8 million rupees in the year-earlier period.
The normalized profit margin declined to 5.0% from 8.1% in the year-earlier period.
Total revenue declined 6.9% on an annual basis to 55.1 million rupees from 59.1 million rupees, and total operating expenses increased from the prior-year period to 48.3 million rupees from 47.2 million rupees.
Reported net income fell 41.1% year over year to 3.5 million rupees, or 18 paise per share, from 6.0 million rupees, or 30 paise per share.
As of Feb. 4, US$1 was equivalent to 61.82 Indian rupees.
