New Delhi: Tata Group hospitality firm Indian Hotels Co Ltd (IHCL) on Friday reported consolidated net profit at Rs92.98 crore for the third quarter ended 31 December 2016. The company had posted a consolidated net profit of Rs13.31 crore in the same period last fiscal, IHCL said in a BSE filing.
Total income from operations during the period under review stood at Rs1,129.29 crore compared to Rs1,162.19 crore in the year-ago quarter, down 2.83%, it added. In the third quarter of the previous fiscal, IHCL’s wholly-owned overseas arm United Overseas Holding Inc had incurred a loss of Rs103.29 crore on the divestment of stake in IHMC Boston LLC, which owned Taj Boston.
In view of the seasonality of the sector, the financial results for the quarter and the nine months ended 31 December 2016 are not indicative of the full year’s expected performance, IHCL added. Shares of IHCL ended the day at Rs109.60 apiece, down 0.45% from the previous close on the BSE.