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Renuka City Hotels fiscal Q2 profit climbs 67.8% YOY

Renuka City Hotels PLC said its normalized net income for the fiscal second quarter ended Sept. 30 came to 13.40 Sri Lankan rupees per share, an increase of 67.7% from 7.99 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 93.8 million rupees, an increase of 67.8% from 55.9 million rupees in the prior-year period.

The normalized profit margin climbed to 147.2% from 87.8% in the year-earlier period.

Total revenue came to 63.7 million rupees, compared with 63.7 million rupees in the prior-year period.

Reported net income grew 69.0% on an annual basis to 148.5 million rupees, or 21.22 rupees per share, from 87.9 million rupees, or 12.56 rupees per share.

As of Nov. 13, US$1 was equivalent to 142.05 Sri Lankan rupees.