Companies

Taj GVK Hotels posts Rs 3.4 cr net profit

Our Bureau Hyderabad | Updated on January 15, 2018 Published on November 02, 2016

Taj GVK Hotels & Resorts Ltd has posted a profit of Rs 3.40 crore for the second quarter ended September 30, 2016 against a loss of Re 0.95 crore in the corresponding quarter last year.

The hospitality chain based in Hyderabad registered a total income of Rs 65.52 crore during the quarter against Rs 60.19 crore in the corresponding quarter last year.

For the half year ended September 30, 2016, the company had posted a profit of Rs 5.86 crore and income of Rs 123.86 crore against a loss of Re 0.90 crore and income of Rs 122.29 crore in the first half of last year.

G Indira Krishna Reddy, Managing Director of Taj GVK, said, “In view of the seasonality of the business, the financial results for the half year ended September 30, 2016 are not indicative of the full year's performance.”

The company also informed that Anil P Goel, Director of the company, had submitted his resignation on October 15 and his resignation was accepted by the board of directors at the meeting held today.

The company shares closed the day at Rs 125.25, up 5.85 per cent on the BSE.

Published on November 02, 2016
This article is closed for comments.
Please Email the Editor