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Renuka City Hotels fiscal Q3 profit climbs YOY

Renuka City Hotels PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 17.17 Sri Lankan rupees per share, a gain from 6.04 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 120.2 million rupees, a gain from 42.3 million rupees in the prior-year period.

The normalized profit margin increased to 192.5% from 53.4% in the year-earlier period.

Total revenue totaled 62.4 million rupees.

Reported net income grew from the prior-year period to 190.8 million rupees, or 27.26 rupees per share, from 64.5 million rupees, or 9.22 rupees per share.

As of Feb. 12, US$1 was equivalent to 132.72 Sri Lankan rupees.