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Hunas Falls Hotels fiscal Q3 loss narrows YOY

Hunas Falls Hotels PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 41 Sri Lankan cents per share, compared with a loss of 56 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.3 million rupees, compared with a loss of 3.2 million rupees in the year-earlier period.

The normalized profit margin increased to negative 7.7% from negative 11.1% in the year-earlier period.

Total revenue climbed 5.0% year over year to 30.0 million rupees from 28.6 million rupees, and total operating expenses totaled 34.3 million rupees, compared with 34.0 million rupees in the year-earlier period.

Reported net income came to a loss of 3.7 million rupees, or a loss of 66 cents per share, compared to a loss of 5.1 million rupees, or a loss of 90 cents per share, in the prior-year period.

As of Feb. 5, US$1 was equivalent to 144.06 Sri Lankan rupees.