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James Hotels fiscal Q2 loss widens 5.3% YOY

James Hotels Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 3.42 Indian rupees per share, compared with a loss of 4.19 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 a loss of 35.3 million rupees, compared with a loss of 33.5 million rupees in the year-earlier period.

The normalized profit margin fell to negative 78.7% from negative 72.0% in the year-earlier period.

Total revenue declined on an annual basis to 44.8 million rupees from 46.6 million rupees, and total operating expenses fell 11.7% year over year to 62.3 million rupees from 70.5 million rupees.

Reported net income totaled a loss of 56.4 million rupees, or a loss of 5.47 rupees per share, compared to a loss of 53.6 million rupees, or a loss of 6.70 rupees per share, in the year-earlier period.

As of Nov. 20, US$1 was equivalent to 66.11 Indian rupees.