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Sigiriya Village Hotels swings to profit in fiscal Q3

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Sigiriya Village Hotels swings to profit in fiscal Q3

4980997 said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 1.19 Sri Lankan rupees per share, compared with a loss of 7 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 9.2 million rupees, compared with a loss of 615,000 rupees in the year-earlier period.

The normalized profit margin rose to 11.1% from negative 1.0% in the year-earlier period.

Total revenue grew 36.4% on an annual basis to 82.1 million rupees from 60.2 million rupees, and total operating expenses increased year over year to 61.1 million rupees from 58.3 million rupees.

eported net income came to 12.6 million rupees, or 1.63 rupee Sigiriya Village Hotels PLC.