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Royale Manor Hotels & Industries fiscal Q3 profit falls YOY

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.