Income from operations increased 35.5% YoY to Rs 33.88 crore in Q1 FY27 from Rs 25.01 crore in the corresponding quarter last year.

Total expenses rose 45.5% YoY to Rs 24.14 crore during the quarter, compared with Rs 16.59 crore in Q1 FY26. Cost of materials consumed increased 37.8% YoY to Rs 2.55 crore, while employee benefit expenses rose 30.4% YoY to Rs 5.27 crore.

Profit before tax stood at Rs 11.07 crore in Q1 FY27, up 8.6% from Rs 10.19 crore in the year-ago quarter.

Taj Nadesar Palace received the BSQA Gold certification, while Taj Ganges, Varanasi, was awarded the BSQA Green certification. During the quarter, Taj Ganges, Varanasi, also hosted the BRICS delegation in June 2026.

Anant Narain Singh, Chairman of Benares Hotels, said the company reported a 31% year-on-year increase in revenue to Rs 35 crore in the first quarter, with EBITDA at Rs 14 crore and an EBITDA margin of 39%. Profit after tax stood at Rs 8 crore. He attributed the revenue growth primarily to the addition of 100 rooms at Taj Ganges.

Singh said the company remains optimistic about the outlook for the year, supported by expected seasonal demand for the destination.

Separately, Benares Hotels appointed Thomas Kunjukunju as chief financial officer (CFO), designated as a key managerial personnel (KMP), effective July 14, 2026. The appointment was approved based on the recommendations of the Audit & Risk Management Committee and the Nomination & Remuneration Committee.

Kunjukunju brings over 30 years of experience in the hospitality sector, with expertise in finance, treasury and hotel operations. He holds a Post Graduate Diploma in Business Management (PGDBM), Master of Commerce and Bachelor of Commerce degrees from Kerala University, Thiruvananthapuram.

During his career, Kunjukunju has held leadership positions at The Claridges, Taj Exotica Resort & Spa, Goa, and Taj Cochin International Airport, Kochi. He was also part of the pre-opening teams for The Claridges Surajkund, Delhi NCR, and Taj Cochin International Airport. Prior to joining the hospitality industry, he gained professional experience with Essilor's India operations and Chemline in Delhi.

Benares Hotels (BHL) operates its hotels, viz. Taj Ganges and Taj Nadesar Palace in Varanasi, and Ginger, Gondia in Maharashtra.

The scrip shed 0.95% to Rs 10,250 on the BSE.