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Tulip Star Hotels fiscal Q1 loss widens 16.8% YOY

Tulip Star Hotels Ltd said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 1.69 Indian rupees per share, compared with a loss of 1.45 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 a loss of 7.8 million rupees, compared with a loss of 6.7 million rupees in the year-earlier period.

Reported net income totaled a loss of 12.5 million rupees, or a loss of 2.71 rupees per share, compared to a loss of 10.7 million rupees, or a loss of 2.32 rupees per share, in the prior-year period.

As of Aug. 7, US$1 was equivalent to 63.74 Indian rupees.