Indian Hotels Q3 net at Rs 93 cr

Tata Group hospitality firm Indian Hotels Co Ltd (IHCL) today reported consolidated net profit at Rs 92.98 crore for the third quarter ended December 31, 2016.
The company had posted a consolidated net profit of Rs 13.31 crore in the same period last fiscal, IHCL said in a BSE filing.
Total income from operations during the period under review stood at Rs 1,129.29 crore compared to Rs 1,162.19 crore in the year-ago quarter, down 2.83 per cent, it added.
In the third quarter of the previous fiscal, IHCL's wholly-owned overseas arm United Overseas Holding Inc had incurred a loss of Rs 103.29 crore on the divestment of stake in IHMC Boston LLC, which owned Taj Boston.

In view of the seasonality of the sector, the financial results for the quarter and the nine months ended December 31, 2016 are not indicative of the full year's expected performance, IHCL added.
Shares of IHCL ended the day at Rs 109.60 apiece, down 0.45 per cent from the previous close on the BSE.