Hotel Leelaventure posts Rs 43 cr profit for Q4

Hotel Leelaventure today reported a standalone net profit of Rs 43.96 crore for the quarter ended March 31, 2015.
The company had posted a net loss of Rs 57.14 crore for the corresponding period of the previous fiscal, Hotel Leelaventure said in a filing with BSE.
The profit was mainly driven by a gain in exceptional item of Rs 183.28 crore during the quarter, the company said.
Standalone net sales stood at Rs 228.37 crore for the quarter under consideration as against Rs 222.13 crore for the same period year ago.
The company also said its board has passed an enabling resolution for raising of funds up to Rs 1,000 crore through issue of shares or securities.

These could include issue of equity shares, convertible debentures, GDRs, ADRs or other securities either through preferential issue or qualified institutional placement or private placement in one or more tranches at an appropriate time, it added.

For the fiscal year ended March 31, 2015 the company registered a consolidated net loss of Rs 415.84 crore. It was a net loss of Rs 441.50 crore for the previous financial year.
Consolidated net sales of the company rose to Rs 754.95 crore for financial year ended March this year as against Rs 718.44 crore for the fiscal year ended March 31, 2014.

Shares of Hotel Leelaventure today closed at Rs 18.55 per scrip on BSE, up 1.92 per cent from it's previous close.