Tata group hospitality firm Indian Hotels Company today reported a standalone net profit of Rs 88.14 crore for the fourth quarter ended March 31.
The company had posted a net loss of Rs 119.15 crore for the corresponding quarter a year ago, Indian Hotels Company (IHC) said in a BSE filing.
Total income from operations was up 12.45 per cent during the quarter under review at Rs 686.82 crore as against Rs 610.77 crore in the previous fiscal.
In exceptional items, IHC has shown a loss of Rs 0.35 crore as against Rs 203.95 crore of Q4 2014-15.
“The figure for the year includes an expenditure on a project written off amounting to Rs 9.83 crore and a gain of Rs 56.53 crore on sales of the company’s investment in Tata projects Ltd, which was classified as a long term investment,” the company said in its results.
For fiscal 2015-16, IHC has narrowed down net loss on consolidated basis to Rs 60.53 crore as against Rs 378.10 crore in 2014-15.
Consolidated net sales increased 9.60 per cent to Rs 4,590.92 crore in the 2015-16 fiscal from Rs 4,188.64 crore a year ago.
Meanwhile, in a separate filing IHC informed that the board in a meeting held today recommended a dividend of Rs 0.30.
Shares of IHC were trading at Rs 115.40 on BSE at 13:23 hrs, down 0.04 per cent from the previous close.