Mumbai: TAJ GVK Hotels & Resorts Limited reported a sharp sequential improvement in its consolidated performance for Q3 FY26, with profit after tax rising 34.3 per cent quarter-on-quarter to Rs 36.99 crore, aided by higher operating revenue and stronger joint venture income.
Revenue from operations climbed 27.2 per cent sequentially to Rs 136.36 crore. Compared with Rs 27.55 crore in Q2 FY26 and Rs 41.18 crore in Q3 FY25, the quarter showed improved momentum despite year-on-year pressure.
For the quarter ended December 31, 2025, the company recorded consolidated total income of Rs 138.31 crore, up from Rs 109.33 crore in the previous quarter and Rs 128.66 crore in the year-ago period.
Total expenses rose to Rs 98.50 crore from Rs 77.83 crore in Q2 FY26, reflecting higher operating activity. Profit before tax improved sequentially to Rs 39.81 crore from Rs 31.50 crore, though it remained below Rs 45.84 crore reported in Q3 FY25.
Sequential Growth Builds
Quarter-on-quarter growth was supported by improved hotel operations, with revenue growth broadly matching the rise in costs. Employee benefits expense increased to Rs 26.83 crore from Rs 22.57 crore, while other expenses rose to Rs 48.05 crore from Rs 34.03 crore.
A key support came from the company’s joint venture, with its share of profit nearly doubling sequentially to Rs 7.90 crore, strengthening overall profitability.
Key Performance Drivers
After accounting for joint venture earnings, consolidated profit after tax increased to Rs 36.99 crore in Q3 FY26 from Rs 27.55 crore in Q2 FY26. Earnings per share rose to Rs 5.90 from Rs 4.39 sequentially.
On a year-on-year basis, profit moderated due to a higher cost base and tax outgo compared with Rs 41.18 crore posted in the corresponding quarter last year.
Nine-Month Performance
For the nine months ended December 31, 2025, consolidated revenue increased 7.6 per cent year-on-year to Rs 355.72 crore, while profit after tax, including joint venture share, rose 9.9 per cent to Rs 90.52 crore, indicating steady operating traction through FY26.
Disclaimer: This summary is based on unaudited consolidated financial results released by the company. Figures are subject to limited review and may change upon completion of the statutory audit.
