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Advani Hotels & Resorts (India) fiscal Q1 profit climbs YOY

Advani Hotels & Resorts (India) Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 19 Indian paise per share, an increase from 4 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.4 million rupees, an increase from 1.7 million rupees in the year-earlier period.

The normalized profit margin increased to 8.0% from 1.8% in the year-earlier period.

Total revenue rose 13.7% on an annual basis to 105.2 million rupees from 92.5 million rupees, and total operating expenses grew 9.5% year over year to 95.7 million rupees from 87.4 million rupees.

Reported net income rose on an annual basis to 8.1 million rupees, or 18 paise per share, from 1.8 million rupees, or 4 paise per share.

As of Aug. 3, US$1 was equivalent to 63.97 Indian rupees.