Apollo Sindoori Hotels Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.11 Indian rupees per share, a decrease of 50.1% from 2.23 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 1.4 million rupees, a decline of 50.3% from 2.9 million rupees in the year-earlier period.
The normalized profit margin declined to 0.5% from 1.5% in the year-earlier period.
Total revenue rose 39.0% on an annual basis to 263.8 million rupees from 189.8 million rupees, and total operating expenses climbed 40.5% on an annual basis to 262.6 million rupees from 186.9 million rupees.
Reported net income decreased 47.8% year over year to 1.9 million rupees, or 1.43 rupees per share, from 3.6 million rupees, or 2.73 rupees per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
