Asian Hotels (East) Ltd Declares Unaudited Q1 FY27 Results
Asian Hotels (East) Limited announced its unaudited standalone and consolidated financial results for the quarter and three months ended June 30, 2026. The Board of Directors approved these results following a recommendation from the Audit Committee. The company also noted the limited review report from its statutory auditors, M/s Singhi & Co. A significant note from the auditor's report highlights potential impairment concerns regarding the company's investment in its wholly-owned subsidiary, GJS Hotels Limited, due to an order from the Government of Odisha directing the subsidiary to vacate a property and invoking a bank guarantee of ₹350 lakhs. The subsidiary has filed a writ petition challenging this order, and the auditor believes provisions for impairment should have been recognized.
Key Highlights
- Board approved unaudited standalone and consolidated financial results.
- Results are for the quarter ended June 30, 2026.
- Statutory auditors issued a limited review report.
- Auditor notes potential impairment of subsidiary investment.
- Subsidiary is challenging a government order to vacate property.
Price Impact
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