Shares of TajGVK that were already upbeat received a further boost on Monday as the company posted its earnings for the quarter ended December.
What Happened: The hospitality company’s net profit for the October-December period came in at ₹24.21 crore, up around 40% from the ₹17.32 crore profit booked in the same period in the previous year.
The company’s consolidated revenue surged up around 6% to ₹111.13 crore, compared to the ₹105.41 crore revenue posted in the same quarter last year.
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TajGVK Hotels & Resorts is a joint venture between Indian Hotels Co Ltd, a Tata Group company, and the Hyderabad-based GVK Group. Operating in the hospitality and tourism industry, it currently has establishments in Hyderabad, Chandigarh, and Chennai.
Shares of the company have been upbeat since Indian Hotels posted its results for the December quarter. In the last five session, the stock has surged up over 22%. Shares of the company surged up close to 12% to hit a new 52-week high of ₹320.50 after the results came out.
Price Action: Shares of TajGVK were up 9.66% to trade at ₹313.95 on Monday afternoon.
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