Hotel Leela net profit at Rs 44 crore in fourth quarter

Beleaguered hotel chain Hotel Leelaventure was back in the black in the quarter ended March 31 with its net profit closing at Rs 44 crore as against a loss of Rs 57 crore posted in the same quarter in 2013-14.

Net sales of the company grew by 3% to Rs 228 crore for the reporting quarter as compared to Rs 222 crore posted in the same quarter in 2013-14.

The board of the company has passed an enabling resolution for raising of funds upto Rs 1,000 crores through issue of equity shares / convertible debentures / GDRs / ADRs and / or such other securities either through preferential issue and / or qualified institutional placement and / or private placement, etc. in one or more tranches at an appropriate time.