Indian Hotels Company that operates Taj brand of hotels and resorts today posted a net loss of Rs 6.30 crore for the second quarter ended September 30.
In the same period last fiscal it had posted a net profit of Rs 11.87 crore.
During the three month period the company's net sales stood at Rs 328.50 crore.
It had registered net sales of Rs 285.92 crore in the same quarter last year.
For the half year ended September 30, the company's loss was estimated at Rs 2.97 crore, Indian Hotels said in a filing to the Bombay Stock Exchange (BSE).
In the corresponding period last year it had posted a net profit of 28.31 crore, it added in the regulatory disclosure.
For the six month period under review the company's net sales were at Rs 657.24 crore.
It had registered net sales worth Rs 548.28 crore during the same period last fiscal.
In the meeting of its board of directors today the company's board approved issuing equity shares and convertible warrants for cash to the main promoter of the company, Tata Sons, on a preferential allotment basis.
The company's scrip closed at Rs 98.70, a low of 3.19 per cent from the previous close on the BSE today.
