India’s one of the largest hotel chain Indian Hotels Company Limited has posted a phenomenal increase in net profit for the period Q4 (ending Mar 2011) of the current fiscal (FY11). During the said quarter, net profit rises 56.78% to Rs 93.93 crore in comparison to Rs 59.91 crore of Q4 (ending Mar 2010) of previous year(FY10). The Indian Hotels Company Limited is engaged in the business of hoteliering with the exception of two jointly controlled entities, which are engaged in the business of air catering. The other areas of business include ready to eat/ready to cook foods business.
The company informed the share market (BSE/NSE) that the total income/net sales increased 19.74% to Rs 530.87 crore in quarter ended Mar 2011 when compared with the last years same quarter ended Mar 2010 which was Rs 443.34 crore. The company will open 16 new hotels in the current financial year and has plans to open 11 more hotels in the next 2-3 years.
The company reported a net loss Rs 87.26 crore for the FY11, which is 36.25% lower as compared to Rs 136.88 crore in FY10. Total sales, however, rose 4.91% to Rs 2891.71 crore in FY11 as compared to Rs 2,516.45 crore last year FY10.
Share’s Data :-
BSE Code : 500850
Mkt. Cap: Rs 5,996.25 Crores
Indian Hotels Company Ltd. share’s CMP is Rs 78.95 on 24th May 2011.
Stay tuned to BelltheBull Blog for more news on Indian Hotels Company Limited !Google+