Indian Hotels Company (IHC) has declared its annual financial results for the fiscal year 2009-10 and has informed to incur a loss in net profit. The company has posted a net loss of Rs 137 crore for the quarter that ended in 31st March, 2010. The net profit of the firm was reported to be Rs 12 crore for the fourth quarter last year.

Indian Hotels Company belongs to Tata Group firm which owns Taj Hotels as well. So far as the net sales of the firm are concerned, it has fallen down to Rs 2,457 crore during the fiscal year 2009-10.

There has been a decline of 6% in the net sales of the company in this fiscal against preceding fiscal.

As per company officials slowdown in its domestic and international businesses has affected the balance sheet of the firm.

The standalone net profit of the company was reported to be of Rs 153 crore for the year under review with a drop of 34% from last year. The standalone total income has declined by 9% to Rs 1,473 crore as well.