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Hotel Sigiriya fiscal Q3 profit falls YOY

Hotel Sigiriya PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 1.53 Sri Lankan rupees per share, a decrease of 5.8% from 1.62 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 9.0 million rupees, a decrease of 5.9% from 9.5 million rupees in the year-earlier period.

The normalized profit margin fell to 13.8% from 14.3% in the year-earlier period.

Total revenue decreased year over year to 65.1 million rupees from 66.6 million rupees, and total operating expenses came to 51.0 million rupees, compared with 51.5 million rupees in the year-earlier period.

Reported net income rose 30.6% on an annual basis to 18.2 million rupees, or 3.10 rupees per share, from 13.9 million rupees, or 2.37 rupees per share.

As of Feb. 9, US$1 was equivalent to 132.80 Sri Lankan rupees.