TajGVK Hotels & Resorts has posted a consolidated net profit of ₹5.60 crore for the quarter ended June 30, an increase of 24% from the year-earlier period. Revenue of the company, which owns six hotels, four of them in Hyderabad and one each in Chennai and Chandigarh, stood at ₹72.36 crore (₹72.79 crore). Chairman G.V.K. Reddy said the company was able to post a “healthy growth” in PAT (profit after tax) though revenue numbers were flat. Following its focus on debt reduction during the quarter, the company repaid ₹6.98 crore and net debt as on June 30 was ₹191 crore.
Greenwoods Palaces & Resorts Private Ltd, a JV company which operates Taj Santacruz, has reported a total income of ₹32.24 crore (₹30.86 crore) and net profit of ₹62 lakh as against a loss of ₹1.24 crore in the year-earlier period.