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UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2011

(Rs. in Lakhs)

Sr.	Particulars	Standalone
		Quarter Ended			Nine Months Ended		Year Ended
No.		31st Dec. 2011 (Unaudited)	30th Sep. 2011 (Unaudited)	31st Dec. 2010 (Unaudited)	31st Dec. 2011 (Unaudited)	31st Dec. 2010 (Unaudited)	31st March 2011 (Audited)
1	a) Net Sales/Income from Operations	3,296.35	2,715.14	3,129.08	8,879.26	8,449.50	11,525.32
	b) Other Operating Income	178.05	260.73	124.73	605.92	461.65	677.44
	Total Income	3,474.40	2,975.87	3,253.81	9,485.18	8,911.15	12,202.76
2	Expenditure
	a) Consumption of Raw Materials	326.19	276.70	298.22	910.46	795.04	1,092.81
	b) Employees Cost	796.83	736.94	681.95	2,260.34	1,958.10	2,760.09
	c) Heat, Light & Power	307.52	293.64	277.37	902.16	773.92	1,018.55
	d) Depreciation	344.10	305.99	311.95	955.96	939.51	1,251.09
	e) Other Expenditure	880.85	826.23	851.17	2,502.57	2,348.60	3,317.36
	Total Expenditure	2,655.49	2,439.50	2,420.66	7,531.49	6,815.17	9,439.90
3	Profit from Operations before Other Income, Interest and Exceptional Items [1-2]	818.91	536.37	833.15	1,953.69	2,095.98	2,762.86
4	Other Income (Note 7)	154.06	44.16	57.59	219.50	140.99	125.07
5	Profit before Interest and Exceptional Items [3+4]	972.97	580.53	890.74	2,173.19	2,236.97	2,887.93
6	Interest (Net)	918.66	556.88	575.17	2,040.24	1,881.71	2,437.00
7	Profit after Interest but before Exceptional Items [5-6]	54.31	23.65	315.57	132.95	355.26	450.93
8	Add/(less):Exceptional items (Note 8)	(115.55)	-	-	(115.55)	-	55.07
	(Less): Prior Period Adjustments	-		-	-	-	(19.58)
9	Profit from Ordinary Activities before Tax (7+8)	(61.24)	23.65	315.57	17.40	355.26	486.42
10	Less: Tax Expense:
	a) Current Tax (MAT)	12.56	(4.82)	(112.69)	(3.47)	(123.64)	(182.00)
	b) Deferred Tax	41.18	(2.51)	(73.71)	32.84	(76.39)	(341.70)
	c) Wealth Tax	-	(0.60)	(1.60)	(2.45)	(5.60)	(7.40)
	d) MAT Credit Entitlement	3.44	0.01	112.69	3.47	123.64	182.00
11	Net Profit from Ordinary Activities after Tax [9-10]	(4.06)	15.73	240.26	47.79	273.27	137.32
12	Less: Extraordinary items (Net of tax expense)	-		-	-	-	-
13	Net Profit for the period [11-12]	(4.06)	15.73	240.26	47.79	273.27	137.32
14	Paid-up equity Share Capital (Face value of Equity Share Rs.10/- each)	1,772.77	1,562.97	1,562.97	1,772.77	1,562.97	1,562.97
15	Reserves Excluding Revaluation Reserves as per balance sheet of previous accounting year						17,576.78
16	Earnings Per Share (EPS)
	Basic & Diluted EPS (Rs):
	a) Before Extraordinary items
	Basic	(0.03)	0.10	1.60	0.31	1.94	0.96
	Diluted	(0.03)	0.08	1.26	0.25	1.94	0.96
	b) After Extraordinary items
	Basic	(0.03)	0.10	1.60	0.31	1.94	0.96
	Diluted	(0.03)	0.08	1.26	0.25	1.94	0.96
17	Public shareholdings: -Number of Shares -Percentage of Shareholding	72,67,902 42.40%	51,69,908 34.37%	51,81,108 34.45%	72,67,902 42.40%	51,81,108 34.45%	51,81,108 34.45%
18	Promoters and promoters group shareholding
	a) Pledged/Encumbered -Number of shares	Nil	Nil	Nil	Nil	Nil	Nil
	-Percentage of shares (as a % of the total share holding of promoter and promoter group)	Nil	Nil	Nil	Nil	Nil	Nil
	-Percentage of shares (as a % of the total share capital of the Company)	Nil	Nil	Nil	Nil	Nil	Nil
	b) Non Encumbered
	Number of shares	9,871,296	9,871,297	9,860,097	9,871,296	9,860,097	9,860,097
	-Percentage of shares (as a % of the total share holding of promoter and promoter group)	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
	-Percentage of shares (as a % of the total share capital of the Company)	57.60%	65.63%	65.55%	57.60%	65.55%	65.55%

1. The above standalone results have been reviewed by the Audit Committee and were approved by the Board of Directors at its meeting held on 4th February, 2012. The Statutory Auditors have carried out a limited review of the above unaudited financial results.
2. The Company is operating only in the Hospitality Services Segment.

3. The Company has completed the expansion project of Hotel Orchid at Vile Parle (East), Mumbai during the quarter ended 31st December, 2011 with addition of 127 rooms and other hotel facilities. With this capacity expansion, the Company's room inventory has gone up from 574 rooms to 701 rooms.
4. The Foreign Currency Bondholders (FCCB holders) have partially exercised their right of conversion of 6,405 bonds (FCCBs) during the quarter and accordingly 20,97,993 equity shares of Rs. 10/- each at a premium of Rs. 125/- per share were allotted to them on 23rd November, 2011. These have been listed on BSE and NSE with effect from 30th November, 2011.
5. The FCCB holders have further converted balance 5,966 bonds into 19,54,196 equity shares of Rs. 10/- each at a premium of Rs. 125/- per share after the close of the quarter ended 31st December, 2011. As a consequence of conversion and increase in number of shares the basic EPS for the quarter and nine months period ended 31st December 2011 is strictly not comparable with previous periods.
6. The FCCB holders have made an open Offer to the shareholders of the Company for the acquisition of 26% (49,64,283 equity shares) of the post conversion equity share capital of the Company pursuant to Regulation 3(1) of Securities and Exchange Board of India (Substantial Acquisition of Share and Takeovers) Regulations, 2011, and the offer is presently open.
7. Other Income for the quarter and nine months period ended 31st December, 2011 includes Rs.99.41 lakhs which represents write back of excess provision made for property tax, in earlier years, in respect of Company's hotel "VITS, Mumbai" consequent upon final determination of Rateable Value by the Brihanmumbai Municipal Corporation.
8. Exceptional items during the quarter represents net loss on sale/discard of certain immovable properties of the Company including assets discarded on discontinuance of business of VITS Nagpur, which was unviable.
9. The proposal of amalgamation of Kamats Restaurants Pvt. Ltd and Kamat Holiday Resorts Pvt. Ltd with the Company and the de-merger of Lotus Resort Goa Undertaking of Kamats Holiday Resorts (Silvassa) Ltd and merger thereof into the Company from the appointed date of 1st April, 2011 was approved by the members of the Company in their Court Convened General Meeting held on 24th September, 2011 and also by the Honourable Bombay High Court on 13th January, 2012. Pending completion of remaining formalities, effect of the above Scheme is not reflected in the above results.
10. There were no unresolved investors' complaints at the beginning of the quarter. Further, during the quarter ended 31st December, 2011, the Company received 4 investor complaints. All the complaints have been suitably disposed off and no unresolved complaint was pending as on 31st December, 2011.
11. 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: 4th February, 2012	Vithal V. Kamat (Executive Chairman & Managing Director)