Taj GVK Hotels Q2 Review - First Ever Profit Post March 2020: ICICI Direct
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ICICI Direct Report
During Q2FY22, Taj GVK Hotels & Resorts Ltd. reported first ever quarterly net profit of Rs 1.2 crore after Q4 FY20 (i.e. beginning of Covid era) with a strong rebound in revenues coupled with controlled fixed costs.
Ebitda margins were at 24.3% versus 20% during the pre-Covid quarter of Q2 FY20 while revenues of Rs 55.9 crore reached 76% of pre-Covid levels during Q2 FY22.
Corporate segment, which has remained a laggard so far due to work-from-home culture till Q1 FY22 is also seeing good traction from Q2 onwards.
Further, Hyderabad being the administrative, financial and economic capital of Telangana and Andhra, is the largest contributor to the state's GDP. A number of proposed infrastructure initiatives are expected to increase Hyderabad’s business and tourist prospects, going ahead.
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