Mumbai Oct 27: Indian Hotels Company Ltd, owners of the Taj group of hotels, has reported a a 27.73 per cent drop in net profit to Rs 17.82 crore during the second quarter of the current fiscal from Rs 24.66 crore in the corresponding period last year.Net profit for the first six months was 18.35 per cent lower at Rs 40.02, as compared to Rs 49.02 crore in the same period last year.
Net sales and other operating income of the company also fell to Rs 241 crore from Rs 257.79 crore during the first half. Non-operating income, however, rose to Rs 18.25 crore from Rs 6.40 crore during the period.
Company officials attributed the spurt in the non-operating income to diviends and other technical fees received from the sale of its internatonal business.
Total income fell 1.8 per cent to Rs 259.25 crore during the six month period.
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