Indian Hotels Company Ltd has posted a profit / (Loss) after Minority Interest of Rs. (333.60) mn for the quarter ended June 30, 2012 as compared to net loss of Rs. (222.70) mn for the quarter ended June 30, 2011.
Total Income has increased from Rs. 7244.90 mn for the quarter ended June 30, 2011 to Rs. 8662.70 mn for the quarter ended June 30, 2012.
Announcing the results, Raymond Bickson, Managing Director, said that the Sector continues to face pressure on demand due to the current economic environment, which in turn had kept the room rates subdued below desired levels in what is essentially an offseason period. He mentioned that the Company was poised at opening new Vivanta by Taj hotels at Gurgaon and Coorg in the near future as also its first prototype Gateway hotel at Kolkata later in this year.