Hotel Leela Q1 net loss at Rs 148 cr

Company posted net loss of Rs 102 cr for the corresponding period previous fiscal

Hotel Leelaventure today reported a widening of net loss at Rs 148.55 crore for the first quarter ended June 30, 2013, on account of finance costs and rise in expenses.

The company had posted a net loss of Rs 101.88 crore for the corresponding period previous fiscal, Hotel Leelaventure said in a filing to BSE.

Total income of the company, however, rose to Rs 150.88 crore for the quarter under consideration from Rs 137.16 crore for the same period a year ago, it added.

The finance costs for the quarter under consideration rose to Rs 121.49 crore as against Rs 89.07 crore for the same period last year, Hotel Leelaventure said.

"In view of the seasonality of the business, the financial results are not indicative of the full year's performance," it added.

Shares of Hotel Leelaventure closed today at Rs 16.85 per scrip, up 2.48% from its previous close on BSE.