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Sinclairs Hotels fiscal Q3 profit climbs 40.2% YOY

Sinclairs Hotels Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 3.01 Indian rupees per share, an increase of 52.7% from 1.97 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.8 million rupees, a gain of 40.2% from 12.0 million rupees in the year-earlier period.

The normalized profit margin increased to 21.5% from 20.3% in the year-earlier period.

Total revenue increased 32.2% year over year to 77.9 million rupees from 59.0 million rupees, and total operating expenses grew 8.9% from the prior-year period to 52.0 million rupees from 47.8 million rupees.

Reported net income grew 11.2% on an annual basis to 26.8 million rupees, or 4.82 rupees per share, from 24.1 million rupees, or 3.98 rupees per share.

As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.