Reuters logo
CORRECTED-Indian Hotels posts Q4 net loss on provisions
May 30, 2013 / 2:42 PM / 5 years ago

CORRECTED-Indian Hotels posts Q4 net loss on provisions

(Corrects headline and breakdown of provision in the first paragraph)

MUMBAI, May 30 (Reuters) - Indian Hotels Co Ltd on Thursday posted a 3.4 billion rupee ($60.51 million) net loss for the January-March quarter, as it booked a provision of 4.2 billion rupees for its investments including in U.S.-listed luxury hotel group Orient-Express Hotels Ltd.

Indian Hotels, part of the salt-to-software Tata group conglomerate, owns and operates Taj hotels and resorts worldwide and had reported net profit of 652.1 million rupees a year earlier.

Net sales were nearly flat at 5.6 billion rupees in the quarter.

$1 = 56.1850 Indian rupees Reporting by Aditi Shah; Editing by Tony Munroe

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below