Hotel Leela Venture Q1 Results reports net loss of Rs 11 Crore

Hotel Leela Venture Q1 Results reports net loss of Rs. 11 Crores

Hotel Leela Venture Q1 Results reports net loss of Rs. 11 crore

Hotel Leela Venture Q1 Results: On Monday, Hotel Leela Venture Limited reported its Q1 results for the first quarter of the current financial year. It has reported a net loss of Rs. 11 crores for the standalone. It had reported a loss of Rs. 7.52 crores for the same quarter a year ago. 

As of the source, the operating income of HLV Limited stood at Rs. 1.5 crores, dropped by 96 percent from the previous quarterly income of Rs. 37.5 crores. Moreover, the firm published a net sales of Rs. 31 crores as of 30th June 2019. It had also posted a loss of Rs. 17 crores for the previous quarter.

However, the total income for the quarter ended June stood at Rs. 4 crores.

The company revealed in BSE filing as the controversial amount, such as the unilateral termination of the Mumbai hotel’s lease and increase in the company’s legal competitive rent was not provided in the books for the quarter ended June 30th. The amount stood at Rs. 3.52 crores for the June quarter, while Rs. 69 crores till June 30th 2020, as annually.

It also added that they will try to improve their business in further days and the current situation may not be a significant hurdle for sustaining the business.

On Monday, the share price of HLV Limited dropped by 2 percent from its previous close. During the day, the share price traded between Rs. 4.90 – Rs. 5.00. Moreover, the company has exchanged a total of 6,202 shares on the counter.

Stock Market September 21st:

On Monday, both Sensex and Nifty traded in a bearish trend in the stock market. At the end of the market, the BSE Sensex dropped 811.68 points with a 2.09% decrease and reached a 38,034.14 level. Besides, the Nifty decreased 250.55 points with a 2.21% decrease and reached the 11,250.55 level.

On the other side, the number of coronavirus cases in India reached 54,87,580 as of Monday, September 21st, and deaths reached 87,882.

In the border markets, the S&P BSE Small-Cap reported a bearish trend in the stock market. It declined 552.64 points with a 3.61% decrease and reached the 14,747.34 level. The S&P BSE Mid-Cap dropped 516.21 points with a 3.43% decrease and reached a 14,531.59 level. While the Nifty Bank drops 740.95 points with a 3.36% drop and reached the 21,290.10 level.

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