Posted inBusiness

Higher income, lower profit for TIHC

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The Indian Hotels Company (TIHC), the hospitality wing of Tata Group, yesterday posted its results for the first quarter of 2012, revealing a decline in net profit in spite of increased income.

For the period up to March 31, the chain registered in a filing to the BSE a net profit to Rs65.21 crore, down significantly from the corresponding period last year, which stood at Rs93.93 crore.

For the quarter under review, the company’s total income increased to just over Rs570 crore, against Rs546 crore in the same quarter in 2011.

After tax, Indian Hotels’ profit came to Rs145.35 crore for the year ended March 31, compared to Rs141.25 crore for the same period in 2011. And total income increased from Rs1,713.52 crore in 2011 to Rs1,858.45 crore for the year ended March 31, 2012.
 

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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