ITC Hotels, ITH, JK Corp & Hotel Leelaventures results

CORPORATE SCORECARD

ITC Hotels net up 103% to Rs 14.56 cr

ITC Hotels today announced a 103 per cent increase in net profit at Rs 14.56 crore for the third quarter ended December 31, 2004.

The company has also announced that its total income has gone up by 38 per cent to Rs 61.29 crore in the same period from Rs 44.49 crore in the same period last year.

The company also said in a statement that the members and unsecured creditors ITC Hotels have approved the scheme of amalgamation of the company with Ansal Hotels Limited with effect from 1st April, 2004.

ITH net up 83% to Rs 5.39 cr

International Travel House (ITH) Ltd recorded a 83 per cent increase in profit before tax at Rs 5.39 crore for the quarter ended December 31, 2004 compared with Rs.2.94 crore for the same period last year.

The company's turnover for this period also increased 18.3 per cent to Rs 294 crore Earnings per share increased to Rs 4.25 per share from Rs 2.46.

JK Corp operating profit up 162%

JK Corp today announced a 162.3 per cent increase in operating profit to Rs 12.93 crore for the third quarter ended December 31, 2004 from Rs 4.93 crore in the same time last year.

The company has also recorded a 32 per cent increase in turnover to Rs 144.71 crore from Rs 109.67 crore in the same time last year. During the quarter, the company achieved a capacity utilisation of 113 per cent and production increased 10 per cent at 6.84 lakh metric tonne.

The ongoing project towards efficiency improvement, enhancement of capacity and cost reduction with the total outlay of Rs 40 crore is well within the schedule, the company said in a statement. The company's production is expected to be 27 lakh metric tonne by the end of this year against 24 lakh metric tonne in the last year.

Hotel Leelaventures net up 31%

Hotel Leelaventure's net profit rose 30.8 per cent to Rs 16.07 crore for the third quarter ended December 2004 from Rs 12.28 crore in the year ago period. Income from operations rose 25.7 per cent to Rs 69.09 crore from Rs 54.96 crore.

For the nine-months April to December 2004, the company reported a net profit of Rs 20.08 crore compared with a net loss of Rs 15.95 crore in April-December 2003. Net sales in the nine months rose 36.9 per cent to Rs 178.55 crore from Rs 130.34 crore.

Hotel Leelaventure has embarked on a project for expansion of room capacity at The Leela Palace Kempinski in Bangalore. Recently, Hotel Leelaventure approved a proposal to set up a five-star deluxe hotel at Chennai.