trending Market Intelligence /marketintelligence/en/news-insights/trending/nf_z-CzjHv3mHrnuTEoQqw2 content esgSubNav
In This List

Velan Hotels swings to loss in fiscal Q2

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021


Velan Hotels swings to loss in fiscal Q2

Velan Hotels Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30, 2014, amounted to 4.0 million rupees, compared with income of 1.2 million rupees in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 9.2% from 3.5% in the year-earlier period.

Total revenue grew 27.3% year over year to 44.0 million rupees from 34.5 million rupees, and total operating expenses climbed 14.7% on an annual basis to 36.2 million rupees from 31.6 million rupees.

Reported net income totaled a loss of 5.0 million rupees, compared with income of 1.6 million rupees, or 6 paise per share, in the prior-year period.

As of Jan. 5, US$1 was equivalent to 63.33 Indian rupees.