- The
operating performance for the
quarter ended September 30, 2002
was adversely impacted by advice
against travel issued by various
countries which continued till
July. Despite the difficult environment
gross profit is higher by 5% compared
to the same period in the previous
year.
-
In view of the seasonality of
the business, the financial results
for the first two quarters for
the Company are not indicative
of the full year's performance.
- The
financial results for the quarter
and half year ended September
30, 2002 are not comparable with
the same periods in the previous
year since the Company transferred
its Taj Air Catering business
division (TAC) to a Joint Venture
Company with Singapore Airport
Terminal Services ( SATS ) with
effect from September 30, 2001.
Results for the quarter and half
year ended September 30, 2001
have also been presented without
Air Catering business division,
based on unit and management accounts,
in order to facilitate proper
comparison.
- Exceptional
items in the previous financial
year ended March 31st 2002 reflect
'other expenditure of non-recurring
nature' not relating to the operations
of the respective periods.
- Other
Income includes Gain on cancellation
of Foreign Exchange Contracts
amounting to Rs. 4.66 crores.
- Provision
for bad debts and advances will
be made at the end of the financial
year after completion of annual
review and considering realisations
and developments during the year.
Tax effect of such provisions
will also be reflected in the
same period.
- The
company took on licence a new
property in North Mumbai with
effect from September 10, 2002.
- Figures
for the previous year and six
months ended September 30 2002
have been restated, wherever necessary,
to conform to the current quarter's
presentation.
- Hoteliering
business is the company's only
business segment;hence disclosure
of segmentwise information is
not applicable.
- The
aforementioned results have been
taken on record by the Board of
Directors of the Company at their
meeting held on October 25, 2002
and have been subjected to limited
review by the statutory auditors.
