Indian Hotels Q4 Net dips 54.55 pc to Rs 31.16 cr

Tata Group hospitality firm Indian Hotels Company today reported a 54.55 per cent dip in its standalone net profit to Rs 31.16 crore for the fourth quarter ended March 31, 2017.
The company had posted a net profit of Rs 68.57 crore for the corresponding period of the previous fiscal, Indian Hotels Company Ltd (IHCL) said in a filing to BSE.
Standalone revenue from operations of the company rose to Rs 707.03 crore for the quarter under consideration as against Rs 685.88 crore for the same period a year ago.
For the fiscal ended March this year, the net profit of the company however rose to Rs 141.94 crore as against Rs 84.15 crore for the year-ago fiscal.

Revenue from operations for the fiscal ended March 31, 2017 also rose to Rs 2,391.25 crore. It was Rs 2,267.85 crore for the previous year.
The company said its board has recommended a dividend of Re 0.35 per share.
The board of directors has also approved amalgamation of TIFCO Holdings Ltd with the company, Indian Hotels said.
Shares of Indian Hotels Company ltd today closed at Rs 137.35 per scrip on BSE, up 0.73 per cent from its previous close.