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Fomento Resorts & Hotels fiscal Q1 profit climbs YOY

Fomento Resorts & Hotels Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 1.51 Indian rupees per share, a gain from 29 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 24.2 million rupees, a gain from 4.6 million rupees in the year-earlier period.

The normalized profit margin increased to 19.6% from 5.1% in the year-earlier period.

Total revenue climbed 36.0% on an annual basis to 123.1 million rupees from 90.5 million rupees, and total operating expenses rose year over year to 96.5 million rupees from 93.1 million rupees.

Reported net income increased on an annual basis to 25.6 million rupees, or 1.60 rupees per share, from 3.5 million rupees, or 22 paise per share.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.