Hotel Leelaventure has widened its April-June 2013 first quarter loss to Rs.148.55 crore from Rs.101.88 crore in the same period last year due to higher finance cost and rise in expenditure. During the quarter under review, total income was up at Rs.150.88 crore against Rs.137.16 crore. Finance cost was higher at Rs.121.49 crore against Rs.89.07 crore.
“In view of the seasonality of the business, the financial results for the quarter are not indicative of the full year’s performance,” the company said in a filing to the stock exchanges.
