Oriental Hotels on Tuesday said it has posted a net loss of Rs 4.08 crore for the quarter ended June 30, 2012, mainly on account of crisis in Europe and opening of a new hotel at Coimbatore.

The company had posted a net profit of Rs 3.39 crore for the quarter ended June 30, 2011, Oriental Hotels said in a filing to BSE.

Net sales of the company however rose to Rs 62.74 crore for the quarter under review as against Rs 55.02 crore for the year ago period.

The company also opened a new hotel with 180 rooms in Coimbatore.

Shares of Oriental Hotels today closed at Rs 23.60 per share on BSE, down 1.87 per cent from its previous close.

(This article was published on July 17, 2012)
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