Royal Orchid Hotels Reports Financial Results
The hotel chain operating five and four star hotels for business and leisure travellers showed an increase in revenue from Rs 20.47 crores to Rs 23.65 crores.
ROYAL ORCHID Hotels Limited, a hotel chain operating 5 and 4 star hotels for business and leisure travellers, reported its first quarter financial results for the quarter ended June 30 2017. The highlights of results was an increase in revenue from Rs 20.47 crores to Rs 23.65 crores. EBIDTA (Earnings Before Interest, Taxes, Depreciation and Amortisation) was Rs 4.17 crore compared to Rs 2.06 cr for the same quarter last year. EBIDTA Margin was 18 percent v/s. 10% last year. PAT or profit after tax was Rs 1.15 cr against a loss of Rs 0.54 cr for the same quarter last year; while Earnings per share was Rs 0.42 against a negative Rs 0.20 last year.
The Company has signed two properties under management during the quarter, which will be operational shortly.
Commenting on the results Chender Baljee, Chairman & Managing Director said: “On the business front, we are totally focused on our asset light model strategy with addition of 2 new properties in first quarter of this fiscal year. We seek to maintain an efficient balance sheet with an investment grade credit rating. We will continue with the strategy to increase our presence across country and strengthen our portfolio. In next quarter we will witness the post GST implementation phase with the industry settling down and assessing the overall impact.”
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