Sterling Holiday Resorts posts Rs 6-cr net loss

Sterling Holiday Resorts has widened its net loss to Rs 6 crore during the quarter ended March 31, 2012, from Rs 4.3 crore in the comparable previous year period. Total income from operations more than doubled to Rs 24.5 crore during the quarter from Rs 12.2 crore last year. Total income from sales of vacation ownership plans rose to Rs 12.47 crore, and income from resort operations was at Rs 97.3 crore. Employee cost during the quarter under consideration has doubled at Rs 11.5 crore against Rs 5 crore in the previous year. The Chennai-headquartered vacation ownership and leisure hospitality company reported a net loss of Rs 40 crore for the full year against Rs 30 crore in the previous year. Total operating income was at Rs 68 crore (Rs 39 crore).