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.