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Aug 02, 2012, 04.34 PM IST

Hotel Leela Q1 net loss rises 285% to Rs 102 cr

Hotel Leela Venture's first quarter net loss shot up by 285% to Rs 102 crore from loss of Rs 26.5 crore in a year ago period.

Source: Moneycontrol.com
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Hotel Leela Venture 's first quarter net loss shot up by 285% to Rs 102 crore from loss of Rs 26.5 crore in a year ago period.


However, the company reported an operating profit at Rs 16 crore in the quarter as against a loss of Rs 49 crore in the previous quarter. Interest costs fell by 23% quarter-on-quarter to Rs 89 crore.


Net sales increased 23% year-on-year to Rs 138 crore in the quarter ended June 2012.


Hotel Leela has approved preferential allotment worth Rs 100 crore to a promoter group company and also approved resolution to raise up to Rs 1000 crore.


The stock gained 2% to close at Rs 31.45 amid large volumes.


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