Hotel Leelaventure reports net loss of Rs 26.49 crore in Q1

Hospitality company Hotel Leelaventure has reported unaudited results for the first quarter ended June 30, 2011.

The firm posted net loss of Rs 26.49 crore for the first quarter ended June 30, 2011 against net profit of Rs 9.24 crore for the same quarter last year. The firm's net sales for the first quarter of the current fiscal increased 14.18% at Rs 124.72 crore, compared to Rs 109.23 crore in the same quarter last fiscal.

Hotel Leelaventure operates hotels and resorts in India. It also operates spas; and offers facilities for meetings and events, weddings, and social celebrations. The company’s portfolio includes luxury hotels and resorts primarily in Mumbai, Bangalore, Goa, Kovalam, Gurgaon, and Udaipur.