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EIH Associated Hotels fiscal Q1 profit climbs 93.8% YOY

EIH Associated Hotels Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 30 Indian paise per share, an increase of 94.7% from 16 paise per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.2 million rupees, a gain of 93.8% from 4.7 million rupees in the year-earlier period.

The normalized profit margin climbed to 2.2% from 1.2% in the year-earlier period.

Total revenue increased on an annual basis to 414.3 million rupees from 401.7 million rupees, and total operating expenses rose year over year to 379.8 million rupees from 366.1 million rupees.

Reported net income increased 77.0% on an annual basis to 9.6 million rupees, or 32 paise per share, from 5.4 million rupees, or 18 paise per share.

As of Aug. 8, US$1 was equivalent to 61.15 Indian rupees.