• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai Oct. 20 Indian Hotels Co Ltd, a Tata Group entity that runs the Taj Hotel chain, reported a nearly 5 per cent dip in net profit for the quarter ended September 30, 2008, at Rs 50.66 crore against Rs 53.24 crore in the corresponding quarter of the last fiscal.

The company attributed the fall primarily to the exchange loss during the quarter, which was Rs 9.40 crore. In the corresponding quarter of last fiscal, the company had shown an exchange profit of Rs 5.93 crore.

IHCL reported a total income of Rs 367.82 crore during the quarter, up by eight per cent (Rs 340.58 crore). The turnover for the first half of the current fiscal was Rs 744.73 crore, up by nine per cent over that of the corresponding half-year period of last fiscal.

Mr Raymond N. Bickson, Managing Director, told presspersons that the hospitality sector had been impacted as a result of the economic downturn, driven by the recent events in the financial markets around the world. “Notwithstanding this, the company has achieved a growth in top-line and is committed to execute its growth agenda,” he added.

More Stories on : Financial Performance | Hotels | Forex

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line