Hotel Leela Q1 net profit jumps nine-fold to Rs 9.2 cr

NEW DELHI: Hospitality chain Hotel Leelaventure today posted a nine-fold jump in its net profit to Rs 9.24 crore for the quarter ended June 30, 2010.

The company had a net profit of Rs 1.04 crore in the corresponding period previous fiscal, Hotel Leeventure said in a filing to the Bombay Stock Exchange.

The company's total income jumped by 25 per cent to Rs 105.81 crore during the quarter from Rs 84.71 crore posted in the same period last fiscal.

Besides, the company said its board has approved allotment of one crore equity shares on preferential basis to Leelalace Software Solutions, a promoter group firm for Rs 48.50 per share, aggregating Rs 48.5 crore.

The company will seek approval from its shareholders for the preferential issue at its annual general meeting to be held on August 10, it added.