Sterling Holiday Resorts Q3 net loss narrows to Rs 7.26 crore

NEW DELHI: Sterling Holiday Resorts today said it has narrowed consolidated net loss to Rs 7.26 crore for the third quarter ended December 2012 mainly on account of growth in its core business of vacation ownership.

The company had posted a net loss of Rs Rs 18.30 crore for the corresponding period previous fiscal, Sterling Holiday Resorts India said in a filing to BSE.

Consolidated net sales of the company stood at Rs 26.21 crore for the quarter under consideration as against Rs 17.21 crore for the same period last fiscal, it added.

During the quarter the company has added one leased resort at Dharamshala, Sterling Holiday Resorts India said.

Over the next few months the firm also plans to expand it's footprints with addition of Daman, Ganapatipule and a new resort in Lonavala, it added.

Shares of Sterling Holiday Resorts India today closed at Rs 91.30 per scrip on BSE, down 5.19 per cent from previous close.