Monday, Feb 17 2020 | Time 06:09 Hrs(IST)
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Business Economy


Taj Gvk Hotels net profit up by 234 pc to Rs 3 cr in Q2 in FY 19-20

Hyderabad, Nov 8 (UNI) Taj GVK Hotels and Resorts Ltd, on Friday reported that its Profit After Tax (PAT) was increased by 234 per cent to Rs 3 crore against Rs 1.28 crore in the corresponding quarter in previous year , for the second quarter ending September 30.
Commenting on the results, TAJ GVK Hotels and Resorts Ltd Chairman Dr GVK Reddy said, "In line with Aspiration 2022, the company has delivered healthy growth across all key metrics."
Debt has also come down to Rs 179 crores. We remain optimistic about the coming quarters and will continue to focus on maximizing revenue and profits, he claimed.
Greenwoods Palaces and Resorts Private Limited – a JV company which operates Taj Santacruz has performed well during the quarter and the company reported a growth of around 9 per cent and PAT of Rs 0.70 crore, he added.
At Taj Krishna in Hyderabad, 156 rooms have been renovated and 44 rooms will be completed by December 2019 while Taj Deccan has completed a soft refurbishment of 126 rooms and another 25 rooms will be completed by December 2019, the company said in a statement.
The company owns 6 hotels – Taj Krishna , Taj Deccan; Taj Banjarad; Vivanta ( all in Hyderabad ); Taj Club House in Chennai and Taj in Chandigarh.
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