Hotel Leela Q4 net loss at Rs 229cr; to raise upto Rs 1,000-cr

Hotel Leelaventure today reported a standalone net loss of Rs 228.87 crore for the fourth quarter ended March 31, 206 as against a net profit of 43.96 crore in the year-ago period.
Meanwhile, the company's board passed a resolution for raising of funds up to Rs 1,000 crore.
Standalone total income from the operations stood at Rs 193.88 crore during the quarter under consideration. It was Rs 188.92 crore for the year ago period.
In a separate filing on BSE, the company said its board "has passed an enabling resolution for raising of funds up to Rs 1,000 crore through issue of equity shares / convertible debentures / GDRs / ADRs and/or such other securities either through preferential issue and / or qualified institutional placement and/or private placement".

The funds could be raised in one or more tranches at an appropriate time, it added.
For the fiscal ended March 31, 2016 the net loss of the company stood at Rs 180.16 crore. It was at Rs 415.87 crore during the previous fiscals.
Standalone total income from the operations of the company stood at Rs 660.91 crore for the recently ended fiscal. It was Rs 636.45 crore during 2014-15.
Shares of Hotel Leelaventure today closed flat at Rs 17.80 per scrip on BSE.