Kamat Hotels India Ltd., Consultancy Hotel Management India, Advise Domestic Chain of Hotels, hospitality management consultants, hospitality consulting services

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2009

(Rs. in Lakhs)

Sr. No.

Particulars

Quarter Ended

Nine Months Ended

Year Ended

31st Dec.
2009
(Unaudited)

31st Dec.
2008
(Unaudited)

31st Dec.
2009
(Unaudited)

31st Dec.
2008
(Unaudited)

31st March.
2009
(Audited)

a) Net Sales/Income from Operations

2781.70

2830.52

6891.35

9131.55

11613.23

b) Other Operating Income

172.83

127.25

401.40

491.51

694.01

Total Income

2954.53

2957.77

7292.75

9623.06

12,307.24

Expenditure

a) Consumption of Raw Materials

229.25

187.19

599.00

585.32

762.61

b) Employees Cost (See Note 4 below)

438.66

680.18

1663.72

1926.18

2550.01

c) Heat, Light and Power

291.79

318.03

946.53

933.95

1234.48

d) Depreciation

310.13

279.88

940.87

819.33

1109.35

e) Other Expenditure

876.72

927.76

2292.86

2835.36

3860.99

Total Expenditure

2,146.55

2,393.04

6,442.98

7,100.14

9,517.44

Profit from Operations before Other Income, Interest and Exceptional Items [1-2]

807.98

564.73

849.77

2522.92

2789.8

Other Income (See note 5 below)

612.79

(3.06)

833.16

284.82

373.75

Profit before Interest and Exceptional Items [3+4]

1420.77

561.67

1682.93

2807.74

3163.55

Interest

867.72

611.57

2685.83

1,542.52

2,329.36

Profit/(Loss) after Interest but before Exceptional Items [5-6]

553.05

(49.90)

(1002.90)

1265.22

834.19

Add/(Less): Exceptional items

(235.72)

(1448.44)

(17.89)

Profit/(Loss) from Ordinary Activities before Tax (7+8)

553.05

(285.62)

(1002.90)

(183.22)

816.30

Less:Tax Expense:

a) Current Tax (MAT)

41.00

(104.00)

b) Deferred Tax

58.42

(66.54)

404.47

(172.37)

(385.12)

c) Fringe Benefit Tax

(7.75)

(18.00)

(28.80)

d) Wealth Tax

(2.00)

(5.00)

(6.00)

(5.00)

(8.00)

e) MAT Credit Entitlement

104.00

Net Profit/(Loss) from Ordinary Activities after Tax [9-10]

609.47

(323.91)

(604.43)

(378.59)

394.38

Less: Extraordinary items (Net of tax expense)

(171.71)

Net Profit/(Loss) for the period [11-12]

609.47

(152.20)

(604.43)

(206.88)

566.90

Paid-up equity Share Capital (Face value of Equity Share Rs.10/- each)

1378.59

Reserves Excluding Revaluation Reserves as per balance sheet of previous accounting year

14996.02

Earnings Per Share (EPS)

Basic & Diluted EPS (Rs):

a) Before Extraordinary items

Basic

4.62

(2.45)

(4.58)

(2.87)

(2.99)

Diluted

3.64

(1.94)

(3.61)

(2.26)

2.36

b) After extraordinary items

Basic

4.62

(1.15)

(4.58)

(1.57)

4.29

Diluted

3.64

(0.91)

(3.61)

(1.24)

(3.38)

Public shareholdings: -Number of Shares -Percentage of Shareholding

3560197 26.98

Promoters and promoters group shareholding a) Pledged/Encumbered -Number of shares, -Percentage of shares (as a % of the total share holding of promoter and promoter group) -Percentage of shares (as a % of the total share capital of the Company)

16,56,250 17.19% 12.55%

52,47,750 54.45% 39.76%

b) Non Encumbered -Number of shares, -Percentage of shares (as a % of the total share holding of promoter and promoter group) -Percentage of shares (as a % of the total share capital of the Company)

79,80,948 82.81% 60.47%

43,89,448 45.55% 33.26%

Notes:

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2009

The above results have been reviewed by the Audit Committee and were approved by the Board of Directors at its meeting held on 30th January, 2010 and have been subjected to limited review by the statutory auditors.
The Company is operating only in Hospitality Services Segment.
Other Income for the quarter and nine months period ended 31st December, 2009 includes Rs. 596.36 lakhs which represents write back of excess provision for property tax, which was made in earlier years, consequent upon final determination of Rateable Value by the BMC vide order dated 31st December ,2009.
The Company had opted to account the foreign exchange fluctuation gain/loss relating to long term foreign currency monetary items in terms of the Companies (Accounting Standards) Amendment Rules on “Accounting Standard (AS) 11” notified by the Government of India on 31st March, 2009. Consistent with the above and consequent on changes in exchange rate as at 31st December, 2009, there is a gain of Rs. 246.34 lakhs during the quarter which has been deducted from the cost of relevant fixed assets.
There were no unresolved investors’ complaints at the beginning of the quarter. Further, during the quarter ended 31st December, 2009, the Company received 8 investor complaints. All the complaints have been suitably disposed off and no unresolved complaint is pending as on 31st December, 2009.
Previous quarter and financial year figures have been regrouped / rearranged, wherever necessary.

	For and on behalf of the Board Kamat Hotels (India) Limited
Place: Mumbai Date: 30th January, 2010	Vithal V. Kamat (Executive Chairman & Managing Director)


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