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TajGVK Hotels & Resorts Pvt Ltd today reported eight-fold increase in net profit at Rs 4.92 crore for the quarter ending March 31, 2014 mainly due to exceptional items.
The company had reported net profit of Rs 58.07 lakh in same quarter a year ago.
TajGVK reported expectational item of Rs 4.10 crore in the January-March 2014 quarter.
The company's income from operations in the quarter under review stood at Rs 65.07 crore, up 1.26% as against Rs 64.26 crore in same period last year, the company said in a BSE filing.
"Slowdown in the Indian economy along with global economic crisis and political uncertainty at Hyderabad have negatively impacted operations of the company," TajGVK said.
Overall expenses during the quarter were at Rs 55.71 crore compared with Rs 55.47 crore in the same period in the previous year.
Shares of TajGVK closed at Rs 67.25 apiece, up 0.37% from the previous close on the BSE.
