Pegasus Hotels of Ceylon PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 74 Sri Lankan cents per share, an increase of 21.6% from 61 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 22.6 million rupees, a gain of 22.0% from 18.5 million rupees in the year-earlier period.
The normalized profit margin rose to 16.4% from 13.6% in the year-earlier period.
Total revenue totaled 137.2 million rupees, compared with 136.3 million rupees in the prior-year period, and total operating expenses declined from the prior-year period to 106.0 million rupees from 108.3 million rupees.
Reported net income rose 24.2% from the prior-year period to 31.6 million rupees, or 1.04 rupees per share, from 25.4 million rupees, or 84 cents per share.
As of Feb. 6, US$1 was equivalent to 132.96 Sri Lankan rupees.
