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Nicco Parks & Resorts fiscal Q3 profit climbs YOY

Nicco Parks & Resorts Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 32 Indian paise per share, a gain from 31 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.9 million rupees, an increase from 14.6 million rupees in the year-earlier period.

The normalized profit margin climbed to 18.0% from 15.5% in the year-earlier period.

Total revenue declined 12.0% on an annual basis to 82.8 million rupees from 94.1 million rupees, and total operating expenses fell 15.4% on an annual basis to 62.3 million rupees from 73.6 million rupees.

Reported net income increased year over year to 15.9 million rupees, or 34 paise per share, from 15.6 million rupees, or 33 paise per share.

As of Feb. 5, US$1 was equivalent to 67.80 Indian rupees.