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Hotelest Q1 profit climbs 27.3% YOY

Hotelest Ltd. said its first-quarter normalized net income was 75 Mauritian cents per share, a decrease of 25.7% from 1.01 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 42.1 million rupees, a gain of 27.3% from 33.1 million rupees in the prior-year period.

The normalized profit margin increased to 3.8% from 3.2% in the year-earlier period.

Total revenue rose 7.2% on an annual basis to 1.11 billion rupees from 1.03 billion rupees, and total operating expenses grew on an annual basis to 748.4 million rupees from 715.9 million rupees.

Reported net income increased 16.3% from the prior-year period to 119.0 million rupees, or 2.13 rupees per share, from 102.3 million rupees, or 3.14 rupees per share.

As of May 13, US$1 was equivalent to 35.02 Mauritian rupees.