Taj Gvk Hotels & Resorts on Wednesday posted fiscal first quarter profit at Rs 13.21 crore, down 17.3 per cent in comparison to Rs 15.97 crore during the first quarter of FY23. It posted revenue from operations at Rs 91.60 crore, up 7.1 per cent as against Rs 85.50 crore during the first quarter of financial year 2022-23. The company EBITDA stood at Rs 26.2 crore, down 11.4 per cent on-year.
The company also said that the board discussed the commercial terms for renewal of the Taj Banjara License agreement with Hotel Banjara Limited, which could not be finalised between the two parties and it was approved that property be handed over back to owners in due course of time.
Earlier in May, TajGVK Hotels & Resorts had posted Q4FY23 profit at Rs 19.03 crore, up 861.1 per cent on-year. It posted revenue from operations at Rs 103.62 crore, up 61.2 per cent YoY. The Board had also recommended a dividend or Re 1 per equity share of Rs 2 each fully paid up of the company at 50 per cent.