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Indian Hotels Company Ltd - Q1FY14 Results First Cut - Microsec
Posted On : 2013-08-13 05:20:32( TIMEZONE : IST )
Indian Hotels Company Ltd announced its Q1FY14 results on 12th August, 2013.
Indian Hotels Company Ltd started off FY13 with a loss of INR19.09 crore. The company arrived at net sales of INR908.7 crore, which was up by 6.58% on YoY basis, but down by 10.61% on QoQ basis. The EBITDA for the quarter was INR106.38 crore, which was up by 4.81% on YoY basis, but down by 43.35% on QoQ basis. The company posted net loss of INR19.09 crore as compared to a net loss of INR389.17 crore in Q1FY13 and net loss of INR33.36 crore in Q4FY13.
The management made a big announcement saying "It is going to spin off its overseas assets and will be seeking approval from RBI soon". We think this would be a positive step for the company as the overseas assets are running into loss.
