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Gujarat Hotels fiscal Q3 profit falls YOY

Gujarat Hotels Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 1.32 Indian rupees per share, a decrease from 1.38 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.0 million rupees, a decline from 5.2 million rupees in the year-earlier period.

The normalized profit margin increased to 63.0% from 62.8% in the year-earlier period.

Total revenue decreased on an annual basis to 7.9 million rupees from 8.3 million rupees, and total operating expenses increased 17.7% year over year to 1.1 million rupees from 914,000 rupees.

Reported net income decreased year over year to 5.5 million rupees, or 1.45 rupees per share, from 5.8 million rupees, or 1.53 rupees per share.

As of Jan. 19, US$1 was equivalent to 61.63 Indian rupees.