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TajGVK Hotels & Resorts Limited posted a steep drop in its profit during the fourth quarter ended March 31, 2017 at Rs 0.78 crore as against Rs 5.78 crore for the corresponding quarter last fiscal.
The income for the fourth quarter was down at Rs 73.43 crore as against Rs 77.28 crore in the same period previous fiscal.
The hospitality chain, however, posted a higher profit of Rs 10.37 crore for the financial year ended March 31, 2017 as against Rs 8.21 crore for the previous financial year.
The company income from operations was marginally lower for the financial year at Rs 269.77 crore as against Rs 272 crore for the previous financial year.
The Board of Directors recommended a dividend of Rs 0.40 (forty paise) per share at 20 per cent per share of face value of Rs 2 each for the financial year 2016-17.
The Board appointed Bhaskara Rao & Co, Chartered Accountants as statutory auditors of the company for five year in place of Brahmayya & Co., the retiring statutory auditors.
TajGVK shares closed at Rs 168.95, down 5.6 per cent at BSE.
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