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Benares Hotels profit beats consensus by 15.0% in fiscal Q3

Benares Hotels Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 26.53 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 23.07 rupees per share.

EPS declined 6.7% year over year from 28.43 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 34.5 million rupees, a decline of 6.7% from 37.0 million rupees in the prior-year period.

The normalized profit margin dropped to 22.0% from 24.8% in the year-earlier period.

Total revenue increased 5.1% year over year to 156.6 million rupees from 148.9 million rupees, and total operating expenses rose 12.7% on an annual basis to 103.5 million rupees from 91.8 million rupees.

Reported net income fell 6.1% from the prior-year period to 36.5 million rupees, or 28.05 rupees per share, from 38.8 million rupees, or 29.87 rupees per share.

As of Jan. 20, US$1 was equivalent to 61.73 Indian rupees.