Latest News | BIZ-STOCKS-LD INDIAN HOTELS Indian Hotels Company Shares Close 2 Pc Lower After Q4 Earnings
Get latest articles and stories on Latest News at LatestLY. Shares of Indian Hotels Company Ltd (IHCL) on Thursday closed 2 per cent lower after the company reported a 37.75 per cent decline in consolidated net profit for the March quarter.
New Delhi, Jun 11 (PTI) Shares of Indian Hotels Company Ltd (IHCL) on Thursday closed 2 per cent lower after the company reported a 37.75 per cent decline in consolidated net profit for the March quarter.
The stock trimmed most of its intra-day losses and settled 1.94 per cent lower at Rs 91 on the BSE. During the day, it declined 7 per cent to Rs 86.30.
It closed at Rs 92, down 0.70 per cent, on the NSE after falling 7.82 per cent to Rs 85.40 during the day.
In terms of traded volume, 23.51 lakh shares were traded on the BSE and over 88 lakh on the NSE.
The Tata group hospitality arm on Wednesday reported a 37.75 per cent decline in its consolidated net profit at Rs 76.29 crore for the March quarter, hit by the COVID-19 pandemic.
The company had posted a net profit of Rs 122.56 crore for the corresponding period of the previous fiscal, IHCL said in a filing to the BSE.
Its consolidated total income stood at Rs 1,101.02 crore for the quarter under consideration as against Rs 1,281.55 crore for the same period a year ago, it said.
For the fiscal ended March 2020, its net profit came in at Rs 363.74 crore as against Rs 296.12 crore for the previous year.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)