Profit

Indian Hotels Falls on Bigger-Than-Expected Net Loss

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Shares in Indian Hotels Co Ltd, controlled by Tata Group, fell as much as 5.6 per cent after the company's net loss for the January-March quarter widened to a bigger-than-expected Rs 365 crore ($61.77 million) from Rs 339 crore a year ago.

Elara Capital cited a "sharp drop" in domestic business as a factor behind the loss, which offset "healthy" sales growth in overseas subsidiaries.

Shares in the company were down 0.84 per cent at Rs 88.80 as of 10:23 a.m.

Copyright: Thomson Reuters 2014

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