Hotel Leela net at Rs 162 cr in Q3

Proceeds from sale of Goa property contribute to profit

Hotel Leelaventure today posted net profit of Rs 162 crore for the quarter ended December 31 largely on account of proceeds received from the sale of one of its properties.

The Mumbai-based company had reported net loss of Rs 125 crore during the same quarter last year.

An exceptional gain of Rs 188 crore is recorded which is due to the sale of its Goa property in December.

Net sales of the company stood at Rs 184 crore, an increase of 2% over Rs 180 crore recorded in the corresponding period last year.