India Earnings - Hotel Leela Venture saw decline in profit by over 40%

By Abhishek on 6:22 PM

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Hotel Leela Venture : Company reported a drop in standalone net profit for the quarter ended September 2008. During the quarter, the profit of the company declined 40.05% to Rs 240.50 million from Rs 401.20 million in the same quarter previous year.

Net sales for the quarter rose 9.35% to Rs 1,095.00 million, while total income for the quarter rose 6.75% to Rs 1,256.90 million, when compared with the prior year period.

The company posted earnings of Rs 0.64 a share during the quarter, registering 40.74% decline over prior year period.
During the quarter, Interest cost decreased 15.67% to Rs 63.50 million while depreciation cost rose 37.21% to Rs 120.20 million over previous year period.

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