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Nicco Parks & Resorts fiscal Q1 profit climbs 71.8% YOY

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Nicco Parks & Resorts fiscal Q1 profit climbs 71.8% YOY

Nicco Parks & Resorts Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 30 Indian paise per share, a gain of 69.7% from 18 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.1 million rupees, a gain of 71.8% from 8.2 million rupees in the year-earlier period.

The normalized profit margin increased to 14.7% from 11.2% in the year-earlier period.

Total revenue climbed 31.2% on an annual basis to 95.8 million rupees from 73.0 million rupees, and total operating expenses climbed 23.5% from the prior-year period to 75.7 million rupees from 61.3 million rupees.

Reported net income increased 70.5% from the prior-year period to 15.0 million rupees, or 32 paise per share, from 8.8 million rupees, or 19 paise per share.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.