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Pegasus Hotels of Ceylon fiscal Q3 profit climbs 22.0% YOY

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Pegasus Hotels of Ceylon fiscal Q3 profit climbs 22.0% YOY

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.