Leela FY08 net up 19% at 126.24 cr

"This indicates a growth of 19 per cent over the previous financial years net profit after tax of Rs 126.24 crore," stated Vivek Nair, vice chairman and managing director of Hotel Leela Venture limited.        

The company has reported an income from operations of Rs 514.55 crore as against Rs 415.56 crore during the previous year, reflecting a growth of 24 per cent for the financial year ended March 31, 2008.        

The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBIDTA) for the financial year stood at Rs 230.95 crore, reflecting a growth of 21 per cent over Rs 190.39 crore of the previous year, he added.

       
Nair stated that due to the continued buoyancy, especially in the Bangalore and Mumbai markets, the hotels had performed strongly and as per current trends, is poised to continue with the growth in the current year inspite of the slowdown in the US and European economies from where most of the corporate an leisure travelers originate.