Hotel Leelaventure Q4 net loss narrows to Rs 57 cr

However, total income from operations rose to Rs 222 cr

Hotel Leelaventure today said its net loss narrowed to Rs 57.14 crore in the January-March quarter 2013-14 on the back of increase in income from operations.

The company had posted a net loss of Rs 142.18 crore for the corresponding quarter of the previous fiscal, Hotel Leelaventure said in a filing to BSE stock exchange.

Total income from operations rose to Rs 222.13 crore for the quarter under consideration, from Rs 200.89 crore for the same period year ago.

For the 2013-14 financial year, net loss stood at Rs 441.47 crore as against Rs 433.16 crore in the previous fiscal.

Total income rose to Rs 718.44 crore for the fiscal ended March this year. It was Rs 644.72 crore for the previous year.

In another filing to the BSE, Hotel Leelaventure said its "board has approved an enabling resolution for raising funds up to Rs 1,000 crore through issue of equity shares/ convertible debentures/ GDRs/ ADRs and or such securities either through preferential issue and/or qualified institutional placement and/or private placement etc in one or more tranches at an appropriate time."

Shares of Hotel Leelaventure today closed at Rs 23.85 per scrip on BSE, up 6.47% from its previous close.