Indian Hotels Q4 net up 87%

MUMBAI: Indian Hotels Company Ltd on Thursday posted an increase of 86.93 per cent in net profit after tax of Rs 78.85 cr for the quarter ended March 31, as compared to Rs 42.18 cr for the same period last year.

The total income increased 35.88 per cent to Rs 368.73 cr for the fourth quarter in 2005-06 from Rs 271.35 cr in the corresponding quarter in 2004-05, the company informed the Bombay Stock Exchange.

The board of directors of the company recommended a dividend of Rs 13 on shares of Rs 10 each (130 per cent). The company also informed that its equity capital increased by Rs 13.29 crore to Rs 58.41 cr after bondholders holding $147.14 mn worth Foreign Currency Convertible bonds converted their bonds to equity shares.

For the year ended March 31, the company registered a net profit after tax of Rs 183.78 crore as compared to Rs 105.86 cr a year ago and the total income increased to Rs 1127.57 cr for financial year 2005-06 from Rs 873.24 cr in 2004-05.

The group recorded a net profit after tax (after minority interest in subsidiaries) of Rs 248.71 crore for the year ended March 31, as compared to Rs 128.50 cr a year ago and the total income increased to Rs 1914.18 cr for 2005-06 from Rs 1365.70 cr in 2004-05.

The shares of the company were trading at Rs 894, down 8.49 per cent at the BSE.