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Hotel Leelaventure on Friday reported a net profit of Rs 40.65 crore for the third quarter ended December 2017.
Hotel Leelaventure reported a net loss of Rs 24.4 crore for the quarter-ended September 2017 (Q2), up from a loss of Rs 8.95 crore in the year-ago period. The loss was despite the company's net sales inching up a bit and operating expenses declining 3.5 per cent year-on-year (y-o-y) to Rs 141.5 crore in Q2. Like in the year-ago quarter when the company did not provide Rs 183.5 crore towards finance costs related to its liabilities with asset reconstruction companies (ARCs), it did not provide interest expenses and penalties to the tune of Rs 206 crore in Q2 of the current financial year.
Hospitality firm Hotel Leelaventure today reported a net loss of Rs 24.44 crore for the quarter ended on September 30, 2017, against that of Rs 8.95 crore in the same period of the previous fiscal. Total income of the company stood at Rs 149.25 crore for the quarter under consideration against Rs 173.86 crore for the same period year ago, Hotel Leelaventure said in a filing to BSE.
Close to 25 companies including Asian Hotels (West), Anuh Pharma, BPL, Bhartiya International, Cambridge Technology, Cineline, Fortune Financial, Ginni Filaments, Haldyn Glass, Hotel Leelaventure, Indian Hume Pipe, Jet Airways, Mangalam Timber, Precision Wires, Prime Focus, Shriram EPC, Suryalakshmi Cotton, XChanging Solutions, Venus Remedies, Zenith Exports, Zicom Electronic and Wanbury will declare their July-September quarter numbers on Thursday. (1-0)
Hotel Leelaventure on Monday said its three directors, including two nominees of JM Financial Asset Reconstruction Company, have resigned from its board. The company's board of directors at their meeting held today has accepted resignations of Vaddarse Prabhakar Shetty, Anil Ramchand Bhatia and Navnit Kulwantsingh Batheja with immediate effect, Hotel Leelaventure said in a filing to BSE.
New Delhi: Hotel Leelaventure on Monday said its three directors, including two nominees of JM Financial Asset Reconstruction Co., have resigned from its board.
Hotel Leelaventure today said it is in discussions to sell Leela Palace Chennai but has not signed any pact for the sale.
About 100 firms will announce their Q4 and FY results ended March 2017 on Thursday. Among them are Ashok Leyland, Bajaj Hindusthan, Britannia, Bosch, BEML, BF Utilities, Cipla, Concor, Gokul Refoils, Greenlam, GSPL, Excel Crop, Heidelberg, Hotel Leelaventure, IOC, MEP Infra, MphasiS, Manappuram Fin, NMDC, PC Jeweller, Page Industries, Phillips Carbon, Repco Home, Shriram City Union, Thomas Cook, VST Tillers, VA Tech Wabag and West Coast Paper.
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Shares of hospitality firms, such as EIH, Indian Hotels, Hotel Leelaventure, Taj GVK Hotels, Speciality Restaurants, Advani Hotels, Kamat Hotels and others may feel pressure on the service charge proposal. The Union Government on Monday said paying service charge on food bills is not compulsory and customers can choose to have it waived if not satisfied with the experience. Restaurants generally charge service charge in the range of 5-20 per cent.
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There is no respite in selling by foreign institutional investors. Their fury took a heavy toll on several mid- and small-cap stocks, many of which are at 52-week lows.
Hotel Leelaventure today reported narrowing of its standalone net loss to Rs 45.73 crore for the second quarter ended September 30, 2016. The company had posted a net loss of Rs 55.81 crore for the July-September quarter of the previous financial year, Hotel Leelaventure said in a BSE filing.
BSE listed hotel company Leela will consider challenging an order of Delhi High Court asking it to pay Rs 258 crore to Airport Authority of India (AAI). It may approach the Supreme Court against the order directing it to pay the amount (to AAI) as royalty for possession of the latter's property near the Mumbai international airport. "The company is exploring legal options, including moving the Supreme Court," Hotel Leelaventure told BSE.
Salaries of Hotel Leelaventure chairman and co-chairman last year were reduced to less than one-tenth compared to the salaries drawn by them two years ago as creditors tighten noose around the company.