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Browns Beach Hotels fiscal Q2 loss widens YOY

Browns Beach Hotels PLC said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 7 Sri Lankan cents per share, compared with a loss of 2 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 a loss of 9.2 million rupees, compared with a loss of 1.9 million rupees in the prior-year period.

Reported net income came to a loss of 14.8 million rupees, or a loss of 11 cents per share, compared to a loss of 3.5 million rupees, or a loss of 3 cents per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to 142.05 Sri Lankan rupees.