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Tulip Star Hotels fiscal Q1 loss widens YOY

Tulip Star Hotels Ltd said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 1.45 Indian rupees per share, compared with a loss of 1.42 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 6.7 million rupees, compared with a loss of 6.6 million rupees in the prior-year period.

Reported net income totaled a loss of 10.7 million rupees, or a loss of 2.32 rupees per share, compared to a loss of 10.5 million rupees, or a loss of 2.27 rupees per share, in the prior-year period.

As of Aug. 13, US$1 was equivalent to 61.07 Indian rupees.