Indian Hotels' Q4 consolidated profit before tax drops 69% to Rs 58.1 crore

Tata group arm Indian Hotels Company (IHCL) on Wednesday reported a consolidated profit before tax (PBT) and exceptional items of Rs 58.1 crore for the March quarter.

This is drop of 69.3 per cent year-on-year. Its consolidated net profit at Rs 76.29 crore was down 37.75 per cent. It posted a net profit (PAT) of Rs 122.56 crore for the corresponding period of the previous fiscal.

The profit would have been lower but for the jump in exceptional items including profit on sale of land, change in fair value of derivative contracts, etc.