Mumbai, Jan 29: The Indian Hotels Company Ltd (IHCL) has reported a 21 per cent increase in net profit to Rs 40.2 crore in the third quarter ended December 31, 2000, as compared to Rs 33.3 crore in the corresponding quarter last year.Sales and other operating income rose 13.7 per cent to Rs 194.57 crore from Rs 171.20 crore last year. Total income rose 16 per cent during the period to Rs 200.02 crore from Rs 171.88 crore in the same period last year. Other income for the three months period includes profit on sale of idle assets of Rs 4.67 crore in respect of which legal formalities are being completed.
Earnings per share at Rs 8.91, was up from Rs 7.38 last year. According to a company release, the growth has been achieved despite major properties being under renovation during the significant part of the year especially in the third quarter.
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