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Tropical Paradise fiscal Q2 profit falls YOY

Tropical Paradise Co. Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 5 Mauritian cents per share, a decrease of 35.0% from 8 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.4 million rupees, a decrease of 35.0% from 9.8 million rupees in the prior-year period.

The normalized profit margin dropped to 3.9% from 6.1% in the year-earlier period.

Total revenue totaled 162.5 million rupees, compared with 162.0 million rupees in the prior-year period, and total operating expenses grew 5.3% on an annual basis to 142.9 million rupees from 135.7 million rupees.

Reported net income declined 36.2% year over year to 7.3 million rupees, or 6 cents per share, from 11.5 million rupees, or 9 cents per share.

As of Feb. 13, US$1 was equivalent to 33.35 Mauritian rupees.