Tata Group’s stock, engaged in the hospitality and tourism industry, surged nearly 12 percent following a 76.5 percent year-on-year growth in net profit for Q2 FY25.
Share price variations:
With a market capitalization of Rs. 2,043.76 crores, Taj Gvk Hotels and Resorts Ltd. rose to an intraday high of Rs. 342.60 representing an 11.6 percent increase from its previous closing price of Rs. 306.70 per share.
Reason for the Rise:
According to exchange filings, Tajgvk Hotels and Resorts Ltd reported a 76.5 percent year-on-year increase in net profit for Q2 FY25, reaching Rs 19.65 crore, up from Rs 11.13 crore in Q2 FY24. On a quarter-on-quarter basis, net profit surged by 54.6 percent, rising from Rs. 12.71 crore in Q1 FY25.
Their total revenue grew by 18.6 percent year-on-year to Rs. 107.37 crore, compared to Rs. 90.46 crore in the same period last year. Sequentially, revenue increased by 13.37 percent from Rs. 94.70 crore in Q1 FY25.
For the first half of FY25, revenue rose by 10.86 percent to Rs. 202.07 crores, up from Rs. 182.27 crores in H1 FY24, while net profit showed an increase of 32.9 percent, reaching Rs. 32.36 crores compared to Rs. 24.34 crores in the previous year.
About the company:
TajGVK Hotels & Resorts Ltd is a joint venture company between Indian Hotels Co Ltd, a Tata group company, and the Hyderabad-based GVK Group. The company is engaged in the hospitality and tourism industry.
The Company owns & operates three five-star hotels in Hyderabad and one five-star hotel each in the cities of Chennai, Chandigarh and one 5 star luxury hotel in Mumbai through a joint venture company i.e Green Woods Palaces and Resorts Pvt Ltd.
Written By Joseph Pv
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