The Indian Hotels Company Limited (TAJ) Financial Results – Year Ended March 31, 2005
• For the year ended March 31, 2005, the Company reported 26% growth in revenues at Rs 873 crores as against Rs 694 crores achieved in the previous year. For the quarter ended March 31, 2005, the revenue was Rs 270 crores compared to Rs 221 crores in the corresponding period of the previous financial year, a growth of 22%.
• The Gross Profit for the financial year 2004/05 grew by 62% from Rs 128 crores in the previous year to Rs 207 crores in the current year. Quarterly Gross Profit also improved by a similar percentage from Rs 46 crores in the previous year to Rs 74 crores in the current year.
• The Company’s Profit after Tax improved by 74%, increasing from the previous year’s level of Rs 61 crores to Rs 106 crores. Profit after Tax for the quarter grew by 15%.
• With strong performance from its subsidiaries, joint ventures and associates, consolidated revenues of the Company for the full year, based on un-audited accounts currently under review by the statutory auditors, increased by 30% to Rs 1,365 crores compared to Rs 1,046 crores achieved in the previous year. Consolidated Gross Profit for the financial year 2004/05 improved by 73% from Rs 222 crores achieved in the previous year to Rs 385 crores in the current year. The consolidated Profit after Tax improved by 81%, growing from the preceding year’s level of Rs 72 crores to Rs 130 crores.
Announcing the results, Mr Raymond N. Bickson, Managing Director said, the growth was driven by healthy improvement in average room rates due to heavy tourist traffic in most locations, backed by steady growth in its food and beverage business.
About Taj Hotels Resorts and Palaces
Established in 1903, Taj Hotels Resorts and Palaces is one of South Asia’s largest and finest group of hotels, comprising 57 hotels in 38 locations across India with an additional 13 international hotels in the Maldives, Mauritius, UK, Sri Lanka, Africa and the Middle East. From world-renowned landmarks to modern business hotels, idyllic beach resorts to authentic Rajput palaces, each Taj hotel offers an unrivalled fusion of warm Indian hospitality, world-class service and modern luxury. The Taj, a symbol of Indian hospitality, has recently completed the centenary of its flagship hotel, The Taj Mahal Palace and Tower, Mumbai. Taj Hotels Resorts and Palaces is part of the Tata Group, India’s premier business house.
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