Leela Palaces Q1 Net Profit Jumps Over Five-Fold to Rs 48.8 Cr

New Delhi: Leela Palaces Hotels and Resorts on Friday reported an over five-fold rise in its consolidated net profit for the first quarter ended June at Rs 48.8 crore, supported by strong revenue growth.

The luxury hospitality player had reported a consolidated net profit of Rs 8.7 crore during the corresponding April-June period of last year.

Its Revenue from Operations increased to Rs 352 crore for the first quarter under review, from Rs 274.8 crore a year ago, a regulatory filing showed.

However, Leela’s total expenses also rose to Rs 208.57 crore from 173.35 crore during the comparable period of the last fiscal.

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