New Delhi: Hotel Leelaventure Ltd on Monday reported narrowing of its standalone net loss to Rs 51.75 crore for the fiscal first quarter that ended on June 30, 2016.
The company, whose board has approved commencement of sale of its assets such as The Leela Palace, Chennai and The Leela Palace, New Delhi, had posted a net loss of Rs 57.67 crore for the April-June quarter of the previous fiscal year, it said in a filing to the BSE.
Total income from operation was up 7.82 per cent at Rs 148.98 crore during the quarter under review as against Rs 138.17 crore in the corresponding period a year ago.
Hotel Leelaventure's total expenses were up a marginal 1.11 per cent at Rs 181.68 crore compared to Rs 179.68 crore a year ago.
Meanwhile, in a separate filing, Hotel Leelaventure said its board in a meeting approved "commencement of process for sale of certain undertakings of the company i.e. The Leela Palace, Chennai and/or The Leela Palace, New Delhi and to increase limits for making investments, give loans, guarantees and provide securities beyond the prescribed limits".
However, it also added that it would be subject to the approval of shareholders through a postal ballot.
Shares in Hotel Leelaventure, on Monday, ended 1.34 per cent at Rs 18.45 apiece on the BSE, whose benchmark Sensex index finished down 0.17 per cent.
The company, whose board has approved commencement of sale of its assets such as The Leela Palace, Chennai and The Leela Palace, New Delhi, had posted a net loss of Rs 57.67 crore for the April-June quarter of the previous fiscal year, it said in a filing to the BSE.
Total income from operation was up 7.82 per cent at Rs 148.98 crore during the quarter under review as against Rs 138.17 crore in the corresponding period a year ago.
Hotel Leelaventure's total expenses were up a marginal 1.11 per cent at Rs 181.68 crore compared to Rs 179.68 crore a year ago.
Meanwhile, in a separate filing, Hotel Leelaventure said its board in a meeting approved "commencement of process for sale of certain undertakings of the company i.e. The Leela Palace, Chennai and/or The Leela Palace, New Delhi and to increase limits for making investments, give loans, guarantees and provide securities beyond the prescribed limits".
However, it also added that it would be subject to the approval of shareholders through a postal ballot.
Shares in Hotel Leelaventure, on Monday, ended 1.34 per cent at Rs 18.45 apiece on the BSE, whose benchmark Sensex index finished down 0.17 per cent.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
