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Viceroy Hotels fiscal Q3 loss narrows YOY

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Viceroy Hotels fiscal Q3 loss narrows YOY

Viceroy Hotels Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 8 Indian paise per share, compared with a loss of 38 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 a loss of 3.3 million rupees, compared with a loss of 16.1 million rupees in the prior-year period.

The normalized profit margin climbed to negative 1.2% from negative 6.3% in the year-earlier period.

Total revenue increased 8.4% on an annual basis to 277.5 million rupees from 256.0 million rupees, and total operating expenses totaled 222.6 million rupees, compared with 222.8 million rupees in the prior-year period.

Reported net income came to a loss of 7.3 million rupees, or a loss of 17 paise per share, compared to a loss of 23.7 million rupees, or a loss of 56 paise per share, in the year-earlier period.

As of Feb. 11, US$1 was equivalent to 62.51 Indian rupees.