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High interest payout, which continued in the reporting quarter, dented the company's margins. The company posted a net loss of Rs 96.91 crore for the quarter as against a loss of Rs 99.65 crore posted in the same quarter a year earlier.
Leela's finance costs, on account of the over Rs 4,000 crore debt on its books, jumped to Rs 118.23 crore for the quarter as against Rs 108.9 crore. The company has posted losses in the last six of the seven continuos quarters.
However, the company saw an uptick in demand seen from the 14 increase in revenue during the quarter. The company saw its revenue rise to Rs 182 crore, on account of the favourable peak season traffic, from Rs 159 crore posted last year.
Restructuring of debt under the corporate debt restructuring has been approved by its lenders. The company has stated already that it will liquidate some of its non-core assets to cut debt.
