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Anilana Hotels & Properties fiscal Q1 loss narrows YOY

Anilana Hotels & Properties PLC said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 12 Sri Lankan cents per share, compared with a loss of 18 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 58.5 million rupees, compared with a loss of 70.6 million rupees in the prior-year period.

The normalized profit margin increased to negative 87.3% from negative 198.5% in the year-earlier period.

Total revenue increased 88.4% on an annual basis to 67.0 million rupees from 35.5 million rupees, and total operating expenses climbed 38.2% on an annual basis to 125.2 million rupees from 90.6 million rupees.

Reported net income came to a loss of 93.9 million rupees, or a loss of 19 cents per share, compared to a loss of 115.8 million rupees, or a loss of 30 cents per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to 134.55 Sri Lankan rupees.