Financial Daily from THE HINDU group of publications
Saturday, Jul 23, 2005
Financial Daily from THE HINDU group of publications Saturday, Jul 23, 2005 |
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Corporate Results
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Hotels Food & beverage income pushes IHCL net up by 164 pc Our Bureau
Mumbai , July 22 IMPROVED average room rates (ARRs) and occupancies along with higher food and beverage income helped Indian Hotels Company Ltd (IHCL) record a 164 per cent growth in net profit at Rs 16.91 crore for the quarter ended June 30, 2005. The net profit in the corresponding period last year was at Rs 6.40 crore. The company reported a 23 per cent growth in revenues at Rs 207.84 crore against Rs 168.86 crore in the corresponding quarter last year. Profit before tax during the quarter ended June 30, 2005, also grew 204 per cent at Rs 25.79 crore against Rs 8.48 crore in the corresponding period last year. Mr Raymond N. Bickson, Managing Director, said, "The improved performance was driven by an all-round growth in occupancies and ARRs at all key hotels of the company. The quarter also witnessed growth in the company's food and beverage income." The scrip closed the day at Rs 672.80, a shade higher from the previous close of Rs 672.60.
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