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Renuka City Hotels fiscal Q2 profit falls YOY

Renuka City Hotels PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 7.99 Sri Lankan rupees per share, a decline of 12.0% from 9.08 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 55.9 million rupees, a decrease of 12.0% from 63.6 million rupees in the year-earlier period.

The normalized profit margin dropped to 87.8% from 88.3% in the year-earlier period.

Total revenue came to 63.7 million rupees.

Reported net income fell 10.8% year over year to 87.9 million rupees, or 12.56 rupees per share, from 98.5 million rupees, or 14.08 rupees per share.

As of Oct. 28, US$1 was equivalent to 130.90 Sri Lankan rupees.