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TAJGVK Hotels & Resorts Ltd has posted a profit of ₹4.5 crore for the first quarter ended June 30, 2018 as against a profit of ₹1.96 crore for the corresponding quarter last fiscal.
The revenue for the quarter was up at ₹76.79 crore as against ₹59.63 crore for the same period in the previous year.
For the financial year ended March 31, 2018, the hospitality chain had posted a revenue of ₹290.88 crore and a profit of ₹21 crore.
Expenses for the quarter ending June 2018 include an amount of ₹6.62 crore towards renovation expenses of the rooms and public areas at the Taj Deccan.
GVK Reddy, Chairman, TAJGVK Hotels & Resorts Ltd said, “We have had a great start to the year with the positive results of Q1. We remain optimistic about the future based on current market trends and expect the growth momentum to continue in our portfolio.”
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