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Byke Hospitality profit misses consensus by 46.4% in fiscal Q3

The Byke Hospitality Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 1.33 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 2.48 rupees per share.

EPS rose 15.5% year over year from 1.15 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 53.3 million rupees, an increase of 15.4% from 46.2 million rupees in the prior-year period.

The normalized profit margin dropped to 9.3% from 9.4% in the year-earlier period.

Total revenue rose 16.0% on an annual basis to 570.2 million rupees from 491.7 million rupees, and total operating expenses rose 16.5% year over year to 480.7 million rupees from 412.7 million rupees.

Reported net income grew 38.2% year over year to 67.4 million rupees, or 1.68 rupees per share, from 48.8 million rupees, or 1.22 rupees per share.

As of Feb. 6, US$1 was equivalent to 61.94 Indian rupees.