GOLDEN TOURIST RESORTS - INVESTORS ARE AMUSED, SERIOUSLY

Article Abstract:

The Golden Tourist Resorts (GTR) scrip is being traded actively in the bourses though it could not meet the profitability projections made for 1996-97. It had floated a Rs19.66 crore public issue in March 1996 to finance its resort-cum-amusement park project. Of the total project cost of Rs23 crore, Rs19.66 crore was raised through equity, Rs11.16 crore through the promoters, Rs8.50 crore through the public. The remaining capital came from internal accruals (Rs1.55 crore) and borrowings (Rs1.79 crore). In 1996-97, GTR recorded an income of Rs15.29 crore and a net profit of Rs1.95 crore, against the projected Rs18.86 crore and Rs3.76 crore respectively. In 1997-98, GTR made its targeted total income of Rs24.92 crore by posting Rs28.41 crore. Its net profit was Rs2.51 crore, against the projected Rs5.02 crore. The scrip of the company has appreciated by 99 percent in the last 2 years and is now around Rs29.50. (gsh) ------------------------------------------------------------ Financial results of Golden Tourist Resorts ------------------------------------------------------------ Particulars 1997-98 1996-97 (Rs in crore) ------------------------------------------------------------ Sales 28.41 15.29 ------------------------------------------------------------ Gross profit 3.88 2.88 ------------------------------------------------------------ Interest 0.67 0.26 ------------------------------------------------------------ Depreciation 0.70 0.40 ------------------------------------------------------------ Tax 0.00 0.27 ------------------------------------------------------------ Net profit 2.51 1.95 ------------------------------------------------------------

Comment:

Posts gross profit of Rs3.88 crore for fiscal year 1997-1998

Publisher: Bennett, Coleman & Co. Ltd.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
Golden Tourist Resorts

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SITA HOLIDAY RESORTS POSTS Rs 10.9-CR TURNOVER

Article Abstract:

Sita Holiday Resorts (SHR), a subsidiary of Sita World Travel has posted a net profit of Rs64.60 lakh on a turnover of Rs10.93 crore for 1997-98. Its operating profit is at Rs3.83 crore. SHR owns two resort hotels. Heritage Village located at Manesar had an occupancy of 49.3 percent in 1997-98. Heritage Village Club, Goa, which commenced operations in October 1997 had an occupancy rate of 84 percent. (rk)

Comment:

Posts net profit of Rs64.60 lakh on a turnover of Rs10.93 crore for 1997-98

Publisher: Bennett, Coleman & Co. Ltd.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
Sita Holiday Resorts

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Subjects list: India, Hotels and motels, Article
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