Financial Daily from THE HINDU group of publications
Tuesday, Apr 27, 2004
Financial Daily from THE HINDU group of publications Tuesday, Apr 27, 2004 |
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Corporate Results
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Hotels Taj GVK net rises 38 pc; declares 15 pc final Our Bureau
Hyderabad , April 26 TAJ GVK Hotels and Resorts Ltd, the city-based hospitality joint venture between the Tatas and GVK group, has declared a final dividend of 15 per cent for the fiscal ended March 31, 2004. This is in addition to the interim dividend of 15 per cent, taking the total dividend to 30 per cent for the fiscal. As per the financial results taken on record by the board on Monday, the company recorded a growth of 25 per cent in operating revenues at Rs 87.66 crore compared with Rs 70.04 crore in the previous fiscal. While the gross operating profit grew 46 per cent to Rs 28.29 crore (Rs 19.4 crore), the profit before extraordinary items and tax increased 58 per cent to Rs 20.75 crore (Rs 13.15 crore). The net profit after considering the extraordinary items stood at Rs 12.71 crore, a growth of 38 per cent over the previous fiscal. In a press release here on Monday, the company said it is in the process of completing the hotel project at Chandigarh with the work in swift progress.
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