Indian Hotels net loss widens

Tata Group hospitality arm Indian Hotels Company (IHC) on Monday reported widening of its consolidated net loss to Rs 59.95 crore for the second quarter ended September 30, 2017-18, reports PTI from New Delhi. It had posted a net loss of Rs 24.60 crore for the July- September quarter of 2016-17. IHC said in a filing to BSE that its consolidated revenue from operations was down to Rs 851.67 crore for the quarter under review. It was Rs 887.27 crore in the year-ago period. "The company has consolidated gross debt of Rs 3,658 crore, taking into account liquidity of Rs 224 crore, the net debt was Rs 3,434 crore as at September 30, 2017," Indian Hotels said. During 2017-18, the company has opened five hotels under the Ginger brand (371 keys) in Mumbai, Gurugram, Lucknow and Ahmedabad.

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