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Taj GVK Hotels & Resorts Ltd has brought down its losses to Rs 85 lakh during the second quarter ended September 30, 2014 as against a loss of Rs 1.89 crore for the same period last year.
The Hyderabad-based hospitality chain, however, posted a higher income of Rs 59.21 crore for the second quarter this year as against Rs 56.95 crore for the same period last year.
Last fiscal ended March 31, 2014, the company had posted a net profit of Rs 4.97 crore and revenue of Rs 245.13 crore.
Anil P.Goel, Director, Taj GVK in the filings with the stock exchanges said the slowdown in Indian economy along with global economic crisis have impacted the operations of the company during the first half of this year.
The company shares closed today at Rs 102.40, down 1.63 per cent.
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