TRYING TO BEAT THE SLOWDOWN-INDIAN HOTELS
Article Abstract:
The Tata group company, Indian Hotels Ltd recorded a 1.7 percent growth in revenues and 5.95 percent decline in net profit during 1997-98. Its occupancy rates declined to 61 percent. The scrip trades at Rs410. (gsh) --------------------------------------------------------- Financial Results-Indian Hotels Ltd (Rs in crore) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Income 623.91 613.33 --------------------------------------------------------- Operating Profit 221.57 253.21 --------------------------------------------------------- Interest 25.19 45.55 --------------------------------------------------------- Gross Profit 196.38 207.66 --------------------------------------------------------- Depreciation 32.42 27.18 --------------------------------------------------------- Pre-Tax Profit 163.96 180.48 --------------------------------------------------------- Taxation 26.00 33.60 --------------------------------------------------------- Net Profit 137.96 146.68 ---------------------------------------------------------
Comment:
Records 1.7% growth in revenues and 5.95% decline in net profit during 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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INDIAN HOTELS DISAPPOINTS
Article Abstract:
Indian Hotels of the Taj Group increased its total income by 2 percent to Rs624 crore in 1997-98 compared to Rs613 crore in 1996- 97. Its net profit remained the same for both the years at Rs138 crore. The company has decided to sell its hotels in New York and Chicago as they do not fit the image or the quality profile of the Taj Group. A review of its property in London and its operations in Sri Lanka is being undertaken. If the properties at these locations are also sold off, then the company's international presence will be very limited, with just a few hotels overseas. (khr)
Comment:
Posts increase in total income by 2% to Rs624 crore in 1997-1998 compared to Rs613 crore in 1996-1997
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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