New Delhi, Jan 29 (PTI) Brigade Hotel Ventures Ltd. (BHVL), the hospitality arm of the Brigade Group, has reported a consolidated net profit of Rs 21.72 crore for the third quarter ended December, up from Rs 9.62 crore in the year-ago period.
The firm's revenue from operations rose to Rs 138.76 crore, as against Rs 124.35 crore in the corresponding October-December quarter of the previous financial year, according to a regulatory filing on Wednesday evening.
Its total expenses also increased to Rs 114.06 crore, from Rs 112.26 crore during the comparable period a year ago, it added.
Nirupa Shankar, Managing Director, Brigade Hotel Ventures Ltd. said, "Looking ahead, we expect growth to be led by our existing hotels, incremental contribution from F&B additions/ renovations, and the ramp-up of Grand Mercure Ahmedabad GIFT City and ibis Styles Mysuru. With nine upcoming hotels across the luxury and upscale segments, we are progressively strengthening and diversifying our portfolio, positioning the company well for sustained growth".