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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, 2014, amounted to a loss of 9 Sri Lankan cents per share, compared with a loss of 12 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 a loss of 14.1 million rupees, compared with a loss of 19.5 million rupees in the prior-year period.

Reported net income came to a loss of 22.6 million rupees, or a loss of 14 cents per share, compared to a loss of 31.2 million rupees, or a loss of 19 cents per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to 132.95 Sri Lankan rupees.