While the performance of Indian Hotels in the March quarter was in line with estimates, the company is expected to face severe headwinds in the near term. The extent of impact due to Covid-19 can be gauged from the performance in the first two months of the quarter as compared to the dip witnessed in March.
Though consolidated revenues in January and February were up 2 per cent over the year ago quarter, they were down 48 per cent in March. The company sustained an operating loss for March at Rs 27 crore as compared to Rs 273 crore operating profit in the first two months of the year. ...
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First Published: Thu, June 11 2020. 19:23 IST
