Mumbai, May 26 : Tata Group promoted Indian Hotels Company (IHCL) on Friday reported a decline of 55.07 per cent in its standalone net profit for the fourth quarter (Q4) of 2016-17.
According to the company, its standalone net profit during the quarter under review declined to Rs 31 crore from Rs 69 crore reported in the corresponding period of 2015-16.
However, the Q4 standalone revenue from operations of the company that runs the Taj brand of hotels, resorts and safaris increased by 3.06 per cent to Rs 707 crore from Rs 686 crore earned during Q4 of FY16.
On a full financial year 2016-17 basis, the company reported that its standalone net profit rose by 69.04 per cent to Rs 142 crore from Rs 84 crore in 2015-16.
On the other hand, the hospitality major's standalone revenue from operations during the fiscal under review was higher by 5.42 per cent to Rs 2,391 crore from Rs 2,268 crore.
The company's consolidated loss after tax and exceptional items and after minority interests for the full year ended March 31, 2017, was Rs 63 crore compared to loss of Rs 231 crore for the previous year.
"Loss after tax for current period includes loss of Rs 103 crore on divestment of Taj Boston Hotel," the company said in a statement.
