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Hotel Sigiriya fiscal Q4 profit climbs 63.7% YOY

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Hotel Sigiriya fiscal Q4 profit climbs 63.7% YOY

Hotel Sigiriya PLC said its normalized net income for the fiscal fourth quarter ended March 31 was 4.00 Sri Lankan rupees per share, an increase of 63.9% from 2.44 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 23.4 million rupees, a gain of 63.7% from 14.3 million rupees in the prior-year period.

The normalized profit margin increased to 25.2% from 18.1% in the year-earlier period.

Total revenue rose 17.3% year over year to 92.9 million rupees from 79.2 million rupees, and total operating expenses decreased from the prior-year period to 55.6 million rupees from 56.6 million rupees.

Reported net income rose 67.5% year over year to 33.6 million rupees, or 5.73 rupees per share, from 20.1 million rupees, or 3.42 rupees per share.

For the year, the company's normalized net income totaled 6.78 rupees per share, an increase from 3.28 rupees per share in the prior year.

Normalized net income was 39.7 million rupees, a rise from 19.2 million rupees in the prior year.

Full-year total revenue increased 21.9% on an annual basis to 258.3 million rupees from 211.9 million rupees, and total operating expenses rose 6.3% on an annual basis to 196.3 million rupees from 184.7 million rupees.

The company said reported net income increased year over year to 60.8 million rupees, or 10.38 rupees per share, in the full year, from 27.6 million rupees, or 4.71 rupees per share.

As of June 18, US$1 was equivalent to 134.10 Sri Lankan rupees.