Hotel Leela painted red
Hotel Leela is amongst the big losers currently, the stock is down 3.5% at Rs.20.95, closer to its intra day low at Rs.20.80. The stock is dangerously close to its 52-week low of Rs.20.
The stock is painted a deep hue of red on the back of its poor performance. The company, for Q4Fy13 posted a net loss at Rs.142 crore,, up from net loss of Rs.97 crore in Q3. It has ended the year with a consolidated net loss of Rs.433 crore v/s a net profit of Rs.19 crore in FY12. In Q4FY13, the company had a tax reversal of Rs.23 crore which means that but for this, the loss would have been much higher.
The company interest outgo remains huge – it was at Rs.123 crore for Q4 and at Rs.405 crore for FY13, which in itself ate away 62% of the net sales of Rs.654 crore. Operating expenses as such exceeded the topline at Rs.680 crore. Its total debt as at 31st March 2013 stood at Rs.4602 crore.