Indian Hotels company - Q4FY13 Resul First Cut - Microsec

Indian Hotels company Ltd announced its Q4FY13 and FY13 results on 30th May, 2013.

Quarterly Performance (Standalone): The standalone results which form ~55-60% of the consolidated results arrived at net sales of INR555.83 crore, which was flat on YoY basis, but up marginally by 2.07% on QoQ basis. The EBITDA for the quarter was INR166.79 crore, which was up by 4.77% and 10.165 on YoY and QoQ basis. The net profit (including the exceptional item) was at loss of INR338.9 crore, which was almost 5 times down on YoY and QoQ basis. However. The net profit excluding the exceptional item was at INR85.81 crore, which was up by 29% on YoY and QoQ basis.

Note: Exceptional item represents diminution in the value of the investments in select entities. It includes an amount of INR305 crore of diminution in company's investments in Taj International hotels (HK) Ltd, which in turn holds investments in company's various international entities including Orient express Hotels Ltd. In addition, a diminution of INR68 crore, which has been recognized in the company's investments in Bjets Pte Ltd. The company has also created a provision of INR27.55 crore, to satisfy the obligations of Bjets Pte Ltd, an associate company, currently under restructuring. An amount of INR23.11 crore has been accounted towards a satisfactory settlement of a dispute that was under arbitration for over 25 years.

Annual performance (Consolidated): The company arrived at consolidated net sales of INR3743.36 crore, which was up by 8.71%. The EBITDA for the quarter was INR537.64 crore, which merely down by 1.405. The net profit excluding exceptional item was INR 0.19 crore, which was down 96%.

Source : Equity Bulls

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