Mahaweli Reach Hotels PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 24 Sri Lankan cents per share, an increase of 14.5% from 21 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 11.3 million rupees, a gain of 12.3% from 10.1 million rupees in the prior-year period.
The normalized profit margin fell to 7.0% from 7.2% in the year-earlier period.
Total revenue climbed 7.5% year over year to 151.6 million rupees from 141.0 million rupees, and total operating expenses grew 8.5% year over year to 129.0 million rupees from 118.9 million rupees.
Reported net income grew 15.9% from the prior-year period to 18.1 million rupees, or 39 cents per share, from 15.7 million rupees, or 33 cents per share.
As of Jan. 26, US$1 was equivalent to 132.00 Sri Lankan rupees.
