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Gloom for Hotel Leela in 2QFY2000 - Views on News from Equitymaster
 
 
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  • Oct 26, 1999

    Gloom for Hotel Leela in 2QFY2000

    Hotel Leela Venture has recorded a dismal performance in the second quarter ended September 30, 1999. Net profit plunged by 94% to a measely Rs 4 m compared to the corresponding period in 1998. Turnover decline was however, a marginal 2% to Rs 251 m.

    This adverse performance can be attributed to a surge in interest costs (up 246% to Rs 76 m) and also a 114% rise in depreciaton provision to Rs 45 m. As a result margins were a dismal 2%.

    (Rs m) 2QFY2000 2QFY1999 Change
    Sales 251 256 -2.0%
    Other Income 33 2 1550.0%
    Expenditure 156 148 5.4%
    Depreciation 45 21 114.3%
    Interest 76 22 245.5%
    Profit before Tax 4 66 -93.9%
    Tax 0 0 -
    Profit after Tax 4 66 -93.9%
    Net profit margin 1.6% 25.8%  

     

     

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