Cindrella Hotels Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 627,500 rupees, a fall of 12.5% from 716,880 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 declined to 7.5% from 7.7% in the year-earlier period.

Total revenue fell 9.4% on an annual basis to 8.4 million rupees from 9.3 million rupees, and total operating expenses fell 9.6% on an annual basis to 7.1 million rupees from 7.9 million rupees.

Reported net income totaled 694,000 rupees, compared with 792,000 rupees in the year-earlier period.

As of July 31, US$1 was equivalent to 60.88 Indian rupees.