Indian Hotels Q2 net loss at Rs 6.36 crore
Mumbai: Tata Group firm Indian Hotels Company Tuesday reported a net loss of Rs 6.36 crore for the quarter ended September 30, 2012.
The company had posted a net profit of Rs 8.35 crore for the quarter ended September 30, 2011, Indian Hotels Company Ltd (IHCL) said in a filing to BSE.
Net sales of the company, however, rose to Rs 379.01 crore for the quarter under consideration from Rs 357.56 crore in the corresponding period previous fiscal.
"In view of the seasonality of the sector, the financial results of the quarter and half year ended September 30, 2012, are not indicative of the full year's expected performance," IHCL said.
Indian Hotels Company (IHCL) and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces.
Taj Hotels Resorts and Palaces comprises 93 hotels in 53 locations, including 25 Ginger hotels across India, with an additional 16 international hotels in the Maldives, Malaysia, Australia, UK, US, Bhutan, Sri Lanka, Africa and the Middle East.
Shares of Indian Hotels Company today closed at Rs 62.95 per scrip on BSE, down 0.40 percent from its previous close.