Posted inBusiness

Indian Hotels Q1 net profit down at INR3 crore

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Indian Hotels has declared its first quarter results. The company’s Q1 net profit was down at INR3crore versus INR16 crore.

The company has an equity capital of INR 72.35 crore. Face value per share is INR1.

The sharp fall in net profit was due to base effect.

The company’s net profit in Q1 June 2009 was boosted by insurance claims of INR22.52 crore received for business interruption in Taj Mahal Palace & Power, Mumbai which was hit by terrorist attracts.

The company had also earned a huge INR38.77 crore in Q1 June 2009 as profit on sales of investments.

Its net sales were up at INR329 crore versus INR262 crore.

Ronan Fearon, General Manager, JW Marriott Bengaluru Prestige Golfshire; Uzma Irfan, Director of Corporate Communications - Prestige Group; Anuradha Venkatachalam, Captain (Hotel Manager), Moxy Bengaluru Airport Prestige Tech Cloud; Rezwan Razack, Managing Director, Prestige Group; Irfan Razack, Chairman and Managing Director, Prestige Group; Zaid Sadiq, Executive Director - Liaison & Hospitality, Noaman Razack, Director Prestige Group; Ranju Alex, Area Vice President- South Asia, Marriott International; Suresh Singaravelu, Executive Director - Retail, Hospitality & Business Expansion
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