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Nicco Parks & Resorts fiscal Q1 profit climbs 8.0% YOY

Nicco Parks & Resorts Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 32 Indian paise per share, a gain of 6.9% from 30 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 15.2 million rupees, a gain of 8.0% from 14.1 million rupees in the year-earlier period.

The normalized profit margin rose to 15.2% from 14.7% in the year-earlier period.

Total revenue increased year over year to 99.8 million rupees from 95.8 million rupees, and total operating expenses climbed from the prior-year period to 79.2 million rupees from 75.7 million rupees.

Reported net income increased 7.3% year over year to 16.1 million rupees, or 34 paise per share, from 15.0 million rupees, or 32 paise per share.

As of July 31, US$1 was equivalent to 63.88 Indian rupees.