Taj GVK Q4 net up 60% at Rs 7 cr
Business Standard — April 27, 2005

Taj GVK Hotels & Resorts has posted a net profit of Rs 7.10 crore for the fourth quarter ended March, 2005 as compared with Rs 4.44 crore in the corresponding previous quarter, registering a 60 per cent increase in profit after tax (PAT). Income increase 32 per cent at Rs 35. 26 crore (Rs 26.75 crore). Net profit for the fiscal ended March 31, 2005 rose 86 per cent at Rs 22.09 crore as compared to Rs 12.72 crore in 2003-04. Total income went up 32 per cent to Rs 116.10 crore (Rs 88.10 crore).

The board of directors has recommended a dividend at the rate of 45 per cent for the year 2004-05. It appointed N K Singh, former revenue secretary and member of Planning Commission as an additional director on the board of the company besides appointing G V Krishna Reddy as the executive chairman of the company, according to a press release. The board has reappointed G Indira Krishna Reddy as the managing director, the press release said.