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Hotel Leelaventure Ltd, the company which owns and runs hotels under the brand of Leela Hotels and Resorts, posted a four per cent rise in net loss at Rs 100.6 crore for the third quarter of the financial year (October-December) as compared with Rs 96.9 crore posted in the same quarter a year ago.
Despite a rise in income during the quarter on the back of strong tourist season, high costs and increased expenses made a hole in earnings.
The company paid Rs 126.7 crore towards interest payment on loans, an increase of seven per cent over Rs 118.2 crore.
Similarly, total expenses went up 24 per cent to Rs 200 crore for the reporting quarter, as compared with Rs 162 crore in FY13.
Income from operations stood at Rs 204 crore, an increase of 12 per cent as compared with Rs 182.6 crore in the corresponding quarter last year.
The company also stated it is reworking its corporate debt restructuring package.
