Chalet Hotels posted a 236% YoY jump in Q1 net profit to Rs 203.1 crore, driven by higher revenue from its Koramangala residential project and strong hotel operations. Operational revenue rose to Rs 894.5 crore, supported by project completions and rising room inventory.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.