Hotel Royal Chihpen said its normalized net income for the third quarter amounted to NT$149,380, a fall of 98.1% from NT$7.7 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 0.2% from 9.0% in the year-earlier period.

Total revenue decreased 22.0% on an annual basis to NT$67.2 million from NT$86.1 million, and total operating expenses fell 8.8% on an annual basis to NT$67.7 million from NT$74.2 million.

Reported net income declined 98.2% from the prior-year period to NT$184,000, or 0 cents per share, from NT$10.0 million, or 26 cents per share.

As of Nov. 10, US$1 was equivalent to NT$31.77.