Hotel Leelaventure trades in red on reporting 51% decline in FY12 net profit

Hotel Leelaventure is currently trading at Rs. 32.45, down by 0.80 points or 2.41% from its previous closing of Rs. 33.25 on the BSE.

The scrip opened at Rs. 33.60 and has touched a high and low of Rs. 34.40 and Rs. 32.45 respectively. So far 94278 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 49.30 on 20-Jul-2011 and a 52 week low of Rs. 27.55 on 21-Dec-2011.

Last one week high and low of the scrip stood at Rs. 34.40 and Rs. 30.25 respectively. The current market cap of the company is Rs. 1262.37 crore.

The promoters holding in the company stood at 56.57% while Institutions and Non-Institutions held 7.69% and 35.74% respectively.

Hotel Leelaventure has registered about twenty-fold jump in net profit to Rs 209.96 crore for the quarter ended March 31, 2012, on the back of income from sale of a hotel property. The company’s net profit for the same quarter previous year was Rs 11.29 crore.

The company’s net sales for the quarter under review increased by 40.78% to Rs 139.31 crore as compared to Rs 98.95 crore in the fourth quarter of 2010-11.

For the year ended March 31, 2012, the hotel’s net profit declined 50.76% to Rs 18.63 crore against Rs 37.84 crore in the fourth quarter of 2010-11. Its net sales for 2011-12 increased 23.06% to Rs 571.09 crore from Rs 464.04 crore in 2010-11.