Hospitality firm Indian Hotels Company Ltd today announced a consolidated profit after tax of Rs 12.46 crore for 2008-09, down by 96.48 per cent over that in the previous fiscal.

The firm had a consolidated profit after tax of Rs 354.98 crore in the year ended March 31, 2008, Indian Hotels Company said in a filing with the Bombay Stock Exchange.

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For the fiscal 2008-09, standalone profit after tax of the company dropped to Rs 234.03 crore from Rs 377.46 crore in the previous year.

Standalone total income of the company declined to Rs 1,706.52 crore in the year under review from Rs 1,806.04 crore during the last fiscal.

The board of directors recommended a dividend of Rs 1.20 per ordinary equity share of Re 1 each fully paid up.

Shares of the company closed at Rs 624, up 8.64 per cent from the previous close on BSE.

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