Indian Hotels posts net profit of Rs 8.1 cr in Q2

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Indian Hotels posts net profit of Rs 8.1 cr in Q2

Indian Hotels has reported a net profit of Rs 8.1 crore in the second quarter of FY12 as against loss of Rs 6.3 crore in the corresponding quarter of last fiscal.

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Indian Hotels has reported a net profit of Rs 8.1 crore in the second quarter of FY12 as against loss of Rs 6.3 crore in the corresponding quarter of last fiscal.

The company saw exceptional gain of Rs 9.6 crore during the July-September quarter of FY12 as against loss of Rs 5 crore in same quarter the previous year.

Exceptional item included a small forex loss (Rs 1 crore) and a profit of Rs 13 crore due to interest income on a deposit refund received consequent to surrender of leasehold land.

Net sales jumped 8.8% to Rs 358 crore from Rs 329 crore year-on-year. During the same period, EBITDA stood at 10.8% versus 11.1%.

The stock rose 2% to Rs 71.