- The
operating performance for the
quarter ended December 31, 2002
showed marked improvement compared
to the same period in the previous
year with the withdrawal of travel
advisories. Operating income increased
by 29%, Gross Profit by 44% and
profit after.
- Sales
and Operating income for the quarter
ended December 31,2002 includes
turnover of Taj Lands End acquired
in September 2002. Expenditure
for this quarter is higher compared
to the same period in the previous
year mainly due to expenditure
of Taj Lands End and expenditure
attributable to higher volume
of business..
- Exceptional
items reflect 'other expenditure'
of non-recurring nature not relating
to the operations..
- The
financial results for nine months
ended December 31, 2002 are not
comparable with that for the same
period in the previous year as
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 nine months ended December
31, 2001 have also been presented
without air catering business
division, based on unit and management
accounts, in order to facilitate
proper comparison.
- Provision
for bad debts and advances will
be made at the end of the financial
year after completion of an annual
review and after considering realisations
and developments during the year.
Tax effect of such provisions
will also be reflected in the
same.
- 'Figures
for the previous year and nine
months ended December 31, 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 segment wise 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 January 21 2003.
