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Kalpitiya Beach Resort fiscal Q3 loss narrows YOY

Kalpitiya Beach Resort PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 5 Sri Lankan cents per share, compared with a loss of 9 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 a loss of 8.7 million rupees, compared with a loss of 14.1 million rupees in the year-earlier period.

Reported net income totaled a loss of 16.6 million rupees, or a loss of 10 cents per share, compared to a loss of 22.6 million rupees, or a loss of 14 cents per share, in the prior-year period.

As of Jan. 27, US$1 was equivalent to 143.91 Sri Lankan rupees.