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Tulip Star Hotels fiscal Q3 loss widens 8.9% YOY

Tulip Star Hotels Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to a loss of 1.66 Indian rupees per share, compared with a loss of 1.52 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 7.6 million rupees, compared with a loss of 7.0 million rupees in the year-earlier period.

Reported net income came to a loss of 12.2 million rupees, or a loss of 2.66 rupees per share, compared to a loss of 11.2 million rupees, or a loss of 2.43 rupees per share, in the prior-year period.

As of Feb. 4, US$1 was equivalent to 67.50 Indian rupees.