Hotel Leelaventure posts Rs.1.49 bn net profit

June 19th, 2008 - 6:34 pm ICT by IANS  

Mumbai, June 19 (IANS) Hotel Leelaventure Ltd Thursday announced a consolidated profit after tax (PAT) of Rs.1.49 billion ($34.74 million) 2007-08, compared to Rs.1.26 billion ($29.37 million) the previous year. This translates into a 19 percent growth in its PAT.

The company said earning per share for the financial year was Rs.3.93, against Rs.2.31 recorded the year before.

Total income increased to Rs.5.14 billion ($119 million) from Rs.4.25 billion ($99 million), an increase of 24 percent.

EBIDTA or earnings before interest, taxes, depreciation and amortization for the year under the review stood at Rs.2.30 billion, reflecting a growth of 21 percent over Rs.1.90 billion the preceding year.

Leelaventure vice-chairman and managing director Vivek Nair said the buoyant Bangalore and Mumbai markets helped the company’s bottom line. “In all likelihood, this trend will continue despite the fact that the US and Europe, from where most of corporate and leisure travellers originate, are witnessing a slowdown,” he said.

Leelaventure has three upcoming hotels in Gurgaon, Udaipur and Delhi, to be opened between October this year and 2010.

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