Hospitality firm Hotel Leelaventure posted a 7.84 per cent decline in consolidated net profit for the quarter ended March 31 at Rs 37.82 crore.
In the same period last fiscal, the company's net profit stood at Rs 41.04 crore, it said in a filing to the Bombay Stock Exchange (BSE).
The firm's consolidated net sales for the three months period ended March 31, 2011 increased 17.05 per cent at Rs 525.82 crore as against Rs 449.19 crore in the same quarter last fiscal.
Hotel Leelaventure's board has recommended dividend of 15 paise per equity share of Rs 2 face value each for the financial year ended March 31, 2011, subject to approval by the members at the forthcoming Annual General Meeting of the company, the filing said.
The company's scrip closed at Rs 39.70, down 1.98 per cent compared to the previous close on the BSE.