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Jindal Hotels fiscal Q3 profit falls YOY

Jindal Hotels Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.08 Indian rupees per share, a decline of 16.1% from 1.29 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.5 million rupees, a decrease of 16.4% from 7.7 million rupees in the year-earlier period.

The normalized profit margin fell to 8.1% from 9.5% in the year-earlier period.

Total revenue decreased on an annual basis to 79.9 million rupees from 81.8 million rupees, and total operating expenses totaled 58.4 million rupees, compared with 57.9 million rupees in the prior-year period.

Reported net income grew 20.1% year over year to 8.1 million rupees, or 1.36 rupees per share, from 6.8 million rupees, or 1.13 rupees per share.

As of Jan. 27, US$1 was equivalent to 61.36 Indian rupees.