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Viceroy Hotels fiscal Q1 loss widens YOY

Viceroy Hotels Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 50 Indian paise per share, compared with a loss of 49 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 a loss of 21.4 million rupees, compared with a loss of 20.7 million rupees in the year-earlier period.

The normalized profit margin declined to negative 9.0% from negative 8.2% in the year-earlier period.

Total revenue decreased 5.3% on an annual basis to 238.2 million rupees from 251.5 million rupees, and total operating expenses declined 5.7% from the prior-year period to 212.9 million rupees from 225.9 million rupees.

Reported net income totaled a loss of 32.3 million rupees, or a loss of 76 paise per share, compared to a loss of 32.0 million rupees, or a loss of 76 paise per share, in the prior-year period.

As of Aug. 5, US$1 was equivalent to 60.85 Indian rupees.