Graviss Hospitality Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 18 Indian paise per share, compared with a loss of 14 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 a loss of 15.5 million rupees, compared with a loss of 9.9 million rupees in the prior-year period.
The normalized profit margin declined to negative 15.2% from negative 10.6% in the year-earlier period.
Total revenue rose 8.5% year over year to 102.0 million rupees from 94.0 million rupees, and total operating expenses climbed 13.0% year over year to 123.7 million rupees from 109.5 million rupees.
Reported net income came to a loss of 24.8 million rupees, or a loss of 29 paise per share, compared to a loss of 15.9 million rupees, or a loss of 23 paise per share, in the year-earlier period.
As of Oct. 17, US$1 was equivalent to 61.46 Indian rupees.
