Indian Hotels' net loss at Rs 6.3 cr

IHCL, the Tata group firm which owns the Taj chain of hotels, on Wednesday posted a net loss of Rs 6.30 for the second quarter ended September 30, as a high interest payout and erosion in value of one of its subsidiaries led to a fall in margins.The city-based company had reported a net profit of Rs 11.87 crore for the same quarter last year mainly on the back of income earned as claims accrued towards compensation for business interruption for the Taj Mahal Palace, Mumbai and profit on sale of investments and on hotel property.