Best Eastern Hotels Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 7 Indian paise per share, a gain of 95.2% from 4 paise per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.3 million rupees, an increase from 576,880 rupees in the prior-year period.
The normalized profit margin increased to 9.8% from 4.6% in the year-earlier period.
Total revenue climbed on an annual basis to 13.2 million rupees from 12.6 million rupees, and total operating expenses declined 6.7% year over year to 10.5 million rupees from 11.2 million rupees.
Reported net income rose 72.0% year over year to 1.1 million rupees, or 6 paise per share, from 651,000 rupees, or 4 paise per share.
As of Feb. 13, US$1 was equivalent to 62.03 Indian rupees.
