Indian Hotels Q2 net jumps 541%

BS 200 SCORECARD

Indian Hotels Company has posted a 541.09 per cent surge in its net profit at Rs 22.31 crore, for the quarter ended September 30, 2004 compared with a net profit of Rs 3.48 crore, posted in the quarter ended September 30, 2003.

The company's sales and other operating income stood at Rs 172.81 crore, an increase of 25.62 per cent against Rs 137.56 crore, reported in the corresponding period of the previous year.

Raymond Bickson, managing director, Indian Hotels, said that the strong performance in the first six months of the current year has been driven by the significant investments that the company has made in recent times on renovation of its properties and other initiatives.

While depreciation costs increased 12.9 per cent at Rs 13.04 crore, compared with Rs 11.54 crore, interest charges rose 30.9 per cent at 7.87 crore, against Rs 6.01 crore, in the quarter ended September 30, 2003.