Indian Hotels Q1 net loss widens 49.79 per cent at Rs 33.36 crore

NEW DELHI: Tata Group firm Indian Hotels Company Ltd (IHCL) today said its consolidated net loss has widened by 49.79 per cent to Rs 33.36 crore for the quarter ended June 30, 2012, mainly on account of increased expenditure costs.

The company had reported a net loss of Rs 22.27 crore for the quarter ended June 30, 2011, Indian Hotels said in a filing to the BSE.

Consolidated total income of the company, however, rose to Rs 852.57 crore for the quarter under consideration from Rs 711.64 crore in the same quarter year ago.

Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces.

Taj Hotels Resorts and Palaces comprises 93 hotels in 55 locations across India with an additional 16 international hotels in the Maldives, Malaysia, Australia, UK, USA, Bhutan, Sri Lanka, Africa and the Middle East, the company said.

IHCL operate in the luxury, premium, mid-market and value segments of the market through Taj (luxury full-service hotels, resorts and palaces), Taj Exotica, Taj Safaris, Vivanta by Taj Hotels & Resorts, The Gateway Hotel (upscale/mid-market full service hotels and resorts) and Ginger (economy hotels), it added.

Shares of Indian Hotels Company today closed at Rs 60.90 apiece on the BSE, up 0.74 per cent from its previous close.