Hotel Leelaventure Q4 net loss at Rs 142 crores

NEW DELHI: Hotel Leelaventure today reported a net loss of Rs 142.17 crore for the fourth quarter ended March 31, 2013 mainly on account of finance costs.

It had posted a net profit of Rs 209.66 crore for the corresponding quarter previous fiscal, the company said in a filing to BSE.

Net sales of the company, however, rose to Rs 200.63 crore for the quarter under consideration from Rs 139.31 crore for the same period year ago.

The company has a total debt of Rs 4,602 crore as on March 2013 mainly on account of capital expenditure incurred to set up the Udaipur, Delhi and Chennai hotels, apart from acquiring plots at Agra, Pune and Bangalore, next to the Leela Palace, the company said.

For the fiscal year ended March 31, 2013, net loss of the company stood at Rs 433.46 crore. It had posted a net profit of Rs 18.63 crore for the previous fiscal year.

Net sales of the company, however, rose to Rs 653.86 crore for the fiscal year ended March 31, 2013 from Rs 571.84 crore for the year ago period.

Shares of the Hotel Leelaventure Ltd today closed at Rs 21.70 per scrip on BSE, up 3.83 per cent from its previous close.