Sri Lanka Taj Samudra Hotel December net profit down 63-pct

ECONOMYNEXT – December 2016 quarter net profit of Sri Lanka’s Taj Samudra Hotel, part of India’s Taj hotels group, fell 63% to Rs13 million from a year ago.

Sales of Taj Samudra, owned and operated by TAL Lanka Hotels, connected to India's Taj Hotels group, rose 5% to Rs778 million, according to interim accounts filed with the stock exchange.

December quarter earnings per share of Taj Samudra were nine cents. The share last traded at Rs24.90.

EPS was 75 cents for the nine months ending December 2016 with net profit at Rs105 million against a loss of Rs89 million the year before and sales up 8% to Rs2.1 billion.