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Cindrella Hotels swings to loss in fiscal Q2

Cindrella Hotels Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 703,130 rupees, compared with income of 130,000 rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 9.9% from 1.6% in the year-earlier period.

Total revenue declined 11.0% year over year to 7.1 million rupees from 8.0 million rupees, and total operating expenses rose 8.9% on an annual basis to 8.2 million rupees from 7.5 million rupees.

Reported net income came to a loss of 1.1 million rupees, compared with income of 144,000 rupees in the prior-year period.

As of Nov. 13, US$1 was equivalent to 66.19 Indian rupees.