Velan Hotels Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported net loss was INR 4.95 million compared to INR 3.71 million a year ago. Basic loss per share from continuing operations was INR 0.15 compared to INR 0.12 a year ago. Diluted loss per share from continuing operations was INR 0.15 compared to INR 0.12 a year ago.
For the nine months, revenue was INR 0.16 million. Net loss was INR 33.2 million compared to net income of INR 99.78 million a year ago. Basic loss per share from continuing operations was INR 1.04 compared to basic earnings per share from continuing operations of INR 3.12 a year ago. Diluted loss per share from continuing operations was INR 1.04 compared to diluted earnings per share from continuing operations of INR 3.12 a year ago.