Hunas Falls Hotels PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to 14 Sri Lankan cents per share, a decline of 76.4% from 60 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 811,250 rupees, a decrease of 76.1% from 3.4 million rupees in the prior-year period.

The normalized profit margin fell to 2.2% from 9.1% in the year-earlier period.

Total revenue declined on an annual basis to 36.7 million rupees from 37.2 million rupees, and total operating expenses climbed 9.2% year over year to 35.8 million rupees from 32.8 million rupees.

Reported net income fell 77.0% from the prior-year period to 1.1 million rupees, or 20 cents per share, from 5.0 million rupees, or 88 cents per share.

As of July 28, US$1 was equivalent to 130.22 Sri Lankan rupees.