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Beruwala Resorts fiscal Q3 loss widens YOY

Beruwala Resorts PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 9.1 million rupees, compared with a loss of 3.5 million rupees in the year-earlier period.

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

The normalized profit margin dropped to negative 11.5% from negative 4.9% in the year-earlier period.

Total revenue climbed 9.7% on an annual basis to 79.2 million rupees from 72.2 million rupees, and total operating expenses grew 23.6% from the prior-year period to 86.0 million rupees from 69.6 million rupees.

Reported net income came to a loss of 14.5 million rupees, or a loss of 2 cents per share, compared to a loss of 5.7 million rupees, or a loss of 1 cents per share, in the year-earlier period.

As of Feb. 6, US$1 was equivalent to 132.96 Sri Lankan rupees.