James Hotels Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 3.41 Indian rupees per share, compared with a loss of 2.84 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 a loss of 27.3 million rupees, compared with a loss of 22.7 million rupees in the year-earlier period.
The normalized profit margin fell to negative 47.8% from negative 38.6% in the year-earlier period.
Total revenue declined year over year to 57.1 million rupees from 58.8 million rupees, and total operating expenses climbed year over year to 68.1 million rupees from 65.9 million rupees.
Reported net income came to a loss of 43.6 million rupees, or a loss of 5.45 rupees per share, compared to a loss of 36.3 million rupees, or a loss of 4.54 rupees per share, in the prior-year period.
As of Feb. 12, US$1 was equivalent to 62.20 Indian rupees.
