Pegasus Hotels of Ceylon PLC said its normalized net income for the fiscal first quarter ended June 30 was 46 Sri Lankan cents per share, compared with a loss of 3 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.0 million rupees, compared with a loss of 957,500 rupees in the prior-year period.
The normalized profit margin increased to 12.5% from negative 1.2% in the year-earlier period.
Total revenue grew 41.1% year over year to 112.0 million rupees from 79.3 million rupees, and total operating expenses climbed 13.0% on an annual basis to 93.2 million rupees from 82.5 million rupees.
Reported net income totaled 19.4 million rupees, or 64 cents per share, compared to a loss of 2.6 million rupees, or a loss of 9 cents per share, in the year-earlier period.
As of Aug. 14, US$1 was equivalent to 130.18 Sri Lankan rupees.
