Trans Asia Hotels PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 64 Sri Lankan cents per share, a decline of 23.2% from 83 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 127.8 million rupees, a decline of 22.7% from 165.2 million rupees in the prior-year period.
The normalized profit margin fell to 16.1% from 20.4% in the year-earlier period.
Total revenue fell on an annual basis to 792.7 million rupees from 811.8 million rupees, and total operating expenses grew 6.2% from the prior-year period to 595.9 million rupees from 560.9 million rupees.
Reported net income fell 23.2% on an annual basis to 174.7 million rupees, or 87 cents per share, from 227.4 million rupees, or 1.14 rupees per share.
As of Jan. 30, US$1 was equivalent to 132.17 Sri Lankan rupees.
