Taj GVK Hotels and resorts recorded a 56.9 per cent fall in its net profit to Rs 7 crore for the quarter ended September 30, 2009, as compared with Rs 16.25 crore during the corresponding period last year. Its revenues during the quarter fell by 13.03 to Rs 53.76 crore as compared to Rs 61.82 crore last year.
Company managing director Indira Krishna Reddy said its hotels at Hyderabad and Chandigarh have achieved occupancy levels of 65 per cent and 62 per cent respectively while the new hotel Taj Mount Road at Chennai had an occupancy of 47 per cent during the quarter. The civil works and interiors for the new five star hotel project site at Begumpet in Hyderabad are on schedule.
