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Pegasus Hotels of Ceylon fiscal Q2 profit climbs YOY

Pegasus Hotels of Ceylon PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 64 Sri Lankan cents per share, a gain from 9 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 19.4 million rupees, an increase from 2.8 million rupees in the prior-year period.

The normalized profit margin increased to 14.9% from 2.9% in the year-earlier period.

Total revenue climbed 34.4% year over year to 130.3 million rupees from 96.9 million rupees, and total operating expenses increased 10.1% from the prior-year period to 103.4 million rupees from 93.9 million rupees.

Reported net income rose year over year to 27.5 million rupees, or 90 cents per share, from 4.6 million rupees, or 15 cents per share.

As of Nov. 14, US$1 was equivalent to 131 Sri Lankan rupees.