Hotel Leelaventure reports 173% jump in quarterly loss

Net sales for the quarter was marginally up at Rs 158.3 crore, from Rs 156.9 crore in the year-ago period

Hotel Leelaventure reported a net loss of Rs 24.4 crore for the quarter-ended September 2017 (Q2), up from a loss of Rs 8.95 crore in the year-ago period. The loss was despite the company's net sales inching up a bit and operating expenses declining 3.5 per cent year-on-year (y-o-y) to Rs 141.5 crore in Q2.
 
Like in the year-ago quarter when the company did not provide Rs 183.5 crore towards finance costs related to its liabilities with asset reconstruction companies (ARCs), it did not provide interest expenses and penalties to the tune of Rs 206 crore in Q2 of