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Hotel Leela Q3 net loss at Rs96 crore

The firm blames high interest costs and one-time expenses related to debt restructuring for the loss
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First Published: Thu, Feb 07 2013. 07 42 PM IST
Hotel Leelaventure, which underwent a corporate debt restructuring (CDR) exercise in September, said interest benefit relating to the previous year and expenses relating to the recast were recorded as an exceptional item in the October-December quarter. Photo: Mint
Hotel Leelaventure, which underwent a corporate debt restructuring (CDR) exercise in September, said interest benefit relating to the previous year and expenses relating to the recast were recorded as an exceptional item in the October-December quarter. Photo: Mint
Mumbai: Hotel Leelaventure Ltd posted its third consecutive quarterly net loss on Thursday, blaming high interest costs and one-time expenses related to debt restructuring.
Net loss narrowed to Rs 96 crore in the December quarter from Rs 99.65 crore a year ago period, revenue rose 23% to Rs182.8 crore.
The stock fell about 1% to a 52-week low of Rs26.50 on the BSE, while the Sensex fell 0.30% to 19,580.32 points.
Hotel Leelaventure, which underwent a corporate debt restructuring (CDR) exercise in September, said interest benefit relating to the previous year and expenses relating to the recast were recorded as an exceptional item in the October-December quarter.
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First Published: Thu, Feb 07 2013. 07 42 PM IST
More Topics: Hotel Leela | net loss | result |
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