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Tulip Star Hotels fiscal Q3 loss widens YOY

Tulip Star Hotels Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 1.52 Indian rupees per share, compared with a loss of 1.49 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 7.0 million rupees, compared with a loss of 6.9 million rupees in the year-earlier period.

Reported net income totaled a loss of 11.2 million rupees, or a loss of 2.43 rupees per share, compared to a loss of 11.0 million rupees, or a loss of 2.38 rupees per share, in the prior-year period.

As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.