MUMBAI, May 28 (Reuters) - Indian Hotels Co Ltd,
part of the diversified Tata conglomerate, posted a 31 percent
fall in quarterly net profit on Monday, hurt by higher expenses.
The company, which owns and operates the chain of Taj hotels
and resorts worldwide, earned 652.1 million rupees for the three
months ended in March, compared with 939.3 million rupees a year
Net sales rose 6 percent to 5.6 billion rupees, the company,
whose flagship Taj Mahal Palace hotel in Mumbai overlooks the
city's harbour and iconic Gateway of India arch, said.
Analysts on average expected a profit of 656 million rupees
on revenue of 5.64 billion rupees, Thomson Reuters I/B/E/S
Shares in Indian Hotels, which has a market capitalisation
of $779.3 million, ended down 0.35 percent at 56.8 rupees,
before its results were announced. The benchmark index in Mumbai
ended up 1.23 percent.
(Reporting by Aditi Shah; editing by Malini Menon)