Hospitality Properties Trust (HPT) has reported 15.32 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $51.81 million, or $0.30 a share in the quarter, compared with $61.18 million, or $0.37 a share for the same period last year. Revenue during the quarter grew 6.18 percent to $543.52 million from $511.89 million in the previous year period.
Cost of revenue rose 4.35 percent or $13.41 million during the quarter to $322.01 million. Gross margin for the quarter expanded 104 basis points over the previous year period to 40.75 percent.
Total expenses were $450.05 million for the quarter, up 8.83 percent or $36.50 million from year-ago period. Operating margin for the quarter contracted 201 basis points over the previous year period to 17.20 percent.
Operating income for the quarter was $93.47 million, compared with $98.34 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $210.51 million compared with $192.71 million in the prior year period. At the same time, adjusted EBITDA margin improved 108 basis points in the quarter to 38.73 percent from 37.65 percent in the last year period.
Revenue from real estate activities during the quarter increased 6.14 percent or $4.53 million to $78.28 million.
Other income during the quarter was $1.06 million, up 10.02 percent or $0.10 million from year-ago period.
Net receivables were at $62.95 million as on Sep. 30, 2016, up 34.33 percent or $16.09 million from year-ago.
Total assets went up marginally by 1.41 percent or $91.58 million to $6,586.13 million on Sep. 30, 2016. On the other hand, total liabilities were at $3,434.63 million as on Sep. 30, 2016, down 2.39 percent or $84.08 million from year-ago.
Return on assets moved down 10 basis points to 1.40 percent in the quarter. At the same time, return on equity moved down 40 basis points to 1.48 percent in the quarter.
Debt comes down marginallyTotal debt was at $3,121.21 million as on Sep. 30, 2016, down 4.73 percent or $154.80 million from year-ago. Shareholders equity stood at $3,151.50 million as on Sep. 30, 2016, up 5.90 percent or $175.67 million from year-ago. As a result, debt to equity ratio went down 11 basis points to 0.99 percent in the quarter. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
