TajGVK Hotels declines after weak Q4 earnings

TajGVK Hotels & Resorts lost 4.83% to Rs 170.35 at 12:44 IST on BSE after net profit fell 86.5% to Rs 0.78 crore on 5% decline in net sales to Rs 73.43 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 17 May 2017.

Meanwhile, the S&P BSE Sensex was down 106.71 points or 0.35% at 30,552.06. The S&P BSE Small-Cap index was down 132.64 points or 0.85% at 15,548.23.

On the BSE, 12,000 shares were traded on the counter so far as against the average daily volumes of 18,095 shares in the past one quarter. The stock had hit a high of Rs 175.80 and a low of Rs 165 so far during the day.

The stock had outperformed the market over the past one month till 17 May 2017, advancing 17.11% compared with the Sensex's 4.23% rise. The scrip had also outperformed the market over the past one quarter, gaining 37.59% as against the Sensex's 7.69% rise.

TajGVK Hotels & Resorts is a joint venture, formed through a strategic alliance, between the Indian Hotels Company (IHCL) and the Hyderabad based GVK Group.

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