High occupancy boosts TajGVK revenue

Our Bureau Hyderabad | Updated on November 13, 2017 Published on April 28, 2011


Higher occupancy levels at its properties boosted revenue and profits of TajGVK Hotels & Resorts Ltd. The company has registered a 6 per cent growth in its profit at Rs. 12.88 crore for the fourth quarter ended March 31, 2011, against Rs. 12.18 crore for the corresponding quarter last year.

The company's total income for the fourth quarter was up 10 per cent at Rs 69.68 crore against Rs 63.34 crore for the corresponding quarter last year.

Its properties at Chennai and Chandigarh clocked improved occupancy levels of 75 per cent and 74 per cent, respectively, during the fourth quarter, the company said. EPS for the quarter was Rs 2.06 against Rs 1.94 during last quarter of the previous year on the face value of the equity share of Rs 2 paid-up.

During the year ended March 31, 2011, the company closed with revenues of Rs 260.66 crore registering a growth of 14 per cent over last year's Rs 229.5 crore. The profit after tax was up 20 per cent at Rs 43.34 crore compared with Rs 36.27 crore over last year. During the year, the hotels at Chandigargh and Chennai registered occupancy levels of 72 per cent and 61 per cent with properties in Hyderabad clocking 66 per cent occupancy.

Ms G Indira Krishna Reddy, Managing Director of TajGVK, in a statement maintained that with the continuing recovery in the global economy, the hotel industry is expected to perform well. With its properties in key metros, the company is well positioned to benefit from the demand and restricted supply going forward.

The company shares ended the day's trade at Rs 102.05, down 2.89 per cent over previous day's close.

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Published on April 28, 2011
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