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Nicco Parks & Resorts fiscal Q3 profit climbs 43.8% YOY

Nicco Parks & Resorts Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 31 Indian paise per share, an increase of 42.9% from 22 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.6 million rupees, a gain of 43.8% from 10.1 million rupees in the year-earlier period.

The normalized profit margin climbed to 15.5% from 10.4% in the year-earlier period.

Total revenue decreased year over year to 94.1 million rupees from 97.0 million rupees, and total operating expenses declined 10.1% on an annual basis to 73.6 million rupees from 81.9 million rupees.

Reported net income increased 44.4% on an annual basis to 15.6 million rupees, or 33 paise per share, from 10.8 million rupees, or 23 paise per share.

As of Feb. 10, US$1 was equivalent to 62.38 Indian rupees.