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Eden Hotel Lanka fiscal Q2 loss widens YOY

Eden Hotel Lanka PLC said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 1.13 Sri Lankan rupees per share, compared with a loss of 17 cents 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 59.6 million rupees, compared with a loss of 9.2 million rupees in the prior-year period.

The normalized profit margin fell to negative 42.7% from negative 16.5% in the year-earlier period.

Total revenue rose on an annual basis to 139.6 million rupees from 55.7 million rupees, and total operating expenses grew from the prior-year period to 158.8 million rupees from 64.7 million rupees.

Reported net income came to a loss of 95.4 million rupees, or a loss of 1.81 rupees per share, compared to a loss of 14.4 million rupees, or a loss of 27 cents per share, in the year-earlier period.

As of Nov. 14, US$1 was equivalent to 131 Sri Lankan rupees.