Indian Hotels net up 127% to Rs 39 cr

Indian Hotels Company has posted 127 per cent growth in net profit to Rs 38.5 crore for the quarter ended June 30, 2006 from to Rs 16.91 crore in the corresponding previous period.

During the period, IHCL's total income rose from Rs 207.84 crore to Rs 270 crore, a growth of 29.9 per cent. Growth in profits can be attributed to an effective control on expenditure.

The company's expenditure went up by 18.71 per cent to Rs 191.42 crore for the quarter under review as against Rs 161.24 crore in the previous corresponding quarter.

IHCL registered an operating profit of Rs 57.60 crore, a growth of 123 per cent compared to an operating profit of Rs 25.79 crore in the previous corresponding period.

Operating profit margin for the quarter grew to 21.3 per cent in the current quarter compared to 12.40 per cent in the previous corresponding period.

IHCL board has approved the sub-division of the company's ordinary shares of Rs 10 to to a face value of Re 1 each.