Indian Hotels Q2 net loss at Rs 433.48 crore

NEW DELHI: Tata Group firm Indian Hotels Company today reported consolidated net loss of Rs 433.48 crore for the second quarter ended September 30.

The company had posted a consolidated net loss after taxes, minority interest and share of profit/loss in associates of Rs 57.49 crore for the corresponding period of previous fiscal, Indian Hotels Company Ltd (IHCL) said in filing to the BSE.

Consolidated total income of the company, however, rose to Rs 895.92 crore for the quarter under consideration from Rs 813.80 crore for the same period year ago, it added.

For the first half of 2013-14 fiscal, IHCL consolidated net loss also widened to Rs 452.57 crore as against Rs 90.85 crore in the year-ago period.

IHCL's total consolidated income in H1 period (April- September) increased to Rs 1,804.62 crore as against Rs 1,666.37 crore in the same period last year.

Shares of Indian Hotels Company Ltd today closed at Rs 50.85 apiece on BSE, down 2.12 per cent from previous close.

Taj Hotels Resorts and Palaces comprises 100 hotels in 58 locations across India and additional 16 international hotels in the Maldives, Malaysia, Australia, UK, USA, Bhutan, Sri Lanka, Africa and the Middle East.