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Sri Lanka Renuka City Sept net eroded by lower investment gains

Oct 31, 2011 (LBO) - Lower profit from share trading owing to a fall in the Sri Lankan stock market has halved Renuka City Hotels' September 2011 quarter profit, a stock exchange filing showed.
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Net profit fell 58 percent to 52 million rupees in the September 2011 quarter from a year ago although sales more than doubled to 47 million rupees.
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Other operating income of Renuka City Hotels fell 77 percent to 27 million rupees during the period. Earnings per share for the quarter fell to 7.

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37 rupees from 17.39 the year before.

In the six months ending September 30, 2011 earnings per share rose to 32.

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80 rupees from 22.71 rupees the previous year with net profit up 44 percent to 230 million rupees.
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