Apollo Sindoori Hotels Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 5.54 Indian rupees per share, a gain of 19.0% from 4.66 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.2 million rupees, a gain of 19.1% from 6.0 million rupees in the year-earlier period.

The normalized profit margin dropped to 3.7% from 4.1% in the year-earlier period.

Total revenue climbed 33.6% year over year to 196.2 million rupees from 146.9 million rupees, and total operating expenses grew 35.1% year over year to 185.5 million rupees from 137.3 million rupees.

Reported net income rose 19.9% from the prior-year period to 7.7 million rupees, or 5.94 rupees per share, from 6.4 million rupees, or 4.96 rupees per share.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.