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Indian Hotels posts Q4 net loss on provisions
May 30, 2013 / 2:17 PM / 5 years ago

Indian Hotels posts Q4 net loss on provisions

MUMBAI (Reuters) - Indian Hotels Co Ltd(IHTL.NS) on Thursday posted a 3.4 billion rupee 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 OEH.N.

An attendant holds a trolley loaded with the luggage of a guest at the reception area of the Tata Group's Indian Hotels Co. Ginger chain in Ahmedabad May 5, 2012. REUTERS/Amit Dave/Files

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 rupees)

Reporting by Aditi Shah; Editing by Tony Munroe

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