TajGVK Hotels & Resorts gains after reporting turnaround in Q1 results

TajGVK Hotels & Resorts rose 4.03% to Rs 71 at 10:50 IST on BSE after the company reported a net profit of Rs 0.08 crore in Q1 June 2015 compared with net loss of Rs 3.43 crore in Q1 June 2014.

The result was announced after market hours yesterday, 28 July 2015.

Meanwhile, the S&P BSE Sensex was up 90.03 points or 0.33% at 27,549.26.

On BSE, so far 12,114 shares were traded in the counter as against average daily volume of 7,718 shares in the past one quarter.

The stock hit a high of Rs 74.10 and a low of Rs 70.65 so far during the day. The stock had hit a 52-week high of Rs 128 on 28 August 2014. The stock had hit a 52-week low of Rs 60.20 on 17 June 2015.

The stock had underperformed the market over the past one month till 28 July 2015, falling 6.12% compared with Sensex's 1.27% decline. The scrip had also underperformed the market in past one quarter, dropping 1.94% as against Sensex's 0.23% gain.

The small-cap company has equity capital of Rs 12.54 crore. Face value per share is Rs 2.

TajGVK Hotels & Resorts' net sales rose 15.3% to Rs 62.11 crore in Q1 June 2015 over Q1 June 2014.

TajGVK Hotels & Resorts is a joint venture, formed through a strategic alliance, between the Indian Hotels Company (IHCL) and the Hyderabad based GVK Group in the year 1999/2000. GVK Group is a Hyderabad based multi product and multi-location business conglomerate with several integrated companies in India and abroad. IHCL is a TATA enterprise with a chain of hotels owning the Taj Group of Hotels and manages and operates various hotels across the country and abroad. The company owns & operates three five star hotels in Hyderabad and one five star hotel each in the cities of Chennai and Chandigarh.

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