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Hospitality chain TajGVK Hotels & Resorts Ltd has posted a profit of Rs 0.08 crore (Rs 8.33 lakh) for the first quarter ended June 30, 2015, as against a loss of Rs 3.42 crore for the corresponding quarter in the last financial year.
The company registered total income of Rs 62.10 crore for the first quarter as against Rs 53.84 crore for the corresponding quarter last year.
In the last financial year ended March 31, 2015, the company had closed with a loss of Rs 1.97 crore and a turnover of Rs 250.01 crore.
The total income was up 15 per cent for the first quarter over the corresponding quarter last year due to buoyancy in the economy and an increase in demand at Hyderabad due to the stable geo-political environment.
G Indira Reddy, Managing Director, in the accompanying notes to results maintained that in view of the seasonality of the business, the financial results for the first quarter ended June 30, 2015 were not indicative of the full year’s performance.
TajGVK has a chain of properties in Hyderabad, Chennai, Chandigarh and is in the process of commissioning a project adjacent to Mumbai International Airport.
The company’s shares closed at Rs 68.55, down by 0.29 per cent.
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