Oriental Hotels Ltd, an affiliate firm of the Indian Hotels Company Ltd and part of the Taj Group, has recorded profitability for the second consecutive quarter and the enterprise seems optimistic with April 2022 trending greater than the identical interval in 2019, a prime firm official mentioned on Saturday.
Oriental Hotels Ltd on Saturday reported earnings at Rs 1.28 crore for the fourth quarter ending March 31, 2022 as in comparison with a web loss at Rs 4.64 crore registered in the identical interval the earlier yr, an organization assertion mentioned right here.
Revenues in the course of the quarter underneath evaluation grew to Rs 68.32 crore from Rs 54.21 crore registered corresponding interval final fiscal.
Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) as on March 31, 2022 stood at 13.88 as towards 7.30 per cent recorded a yr in the past.
“The company witnessed significant recovery in February and March 2022 with easing of lockdown restrictions post the Omicron wave in January 2022,” Oriental Hotels Ltd, Managing Director and CEO, Pramod Ranjan mentioned.
OHL reported a 26 per cent enhance in income and 685 BPS enhance in EBITDA margin this quarter over the earlier yr, he mentioned.
The firm witnessed a second consecutive quarter of profitability. The outlook for enterprise seems optimistic and April 2022 is trending greater than April 2019, he mentioned.
“Having said the above, the impact of the fourth (COVID-19) wave and emerging variants remain uncertain,” he mentioned in an announcement.
On the affect of COVID-19, the enterprise was impacted in the course of the yr on account of the pandemic. “…there was a third wave in the month of January 2022, resulting in restrictions in some states, which also adversely impacted the revenues,” he mentioned.
“With increased vaccinations and consequent reduction in number of cases and easing of all restrictions, the company has witnessed recovery in both leisure and business segments in all the other months. We do not expect any significant challenge to our supply chain,” he mentioned.
Oriental Hotels Ltd has seven resorts, together with the Taj Coromandel, Taj Fisherman’s Cove Resort and Spa Chennai, Taj Malabar Resort and Spa, Cochin; Vivanta, Coimbatore; The Gateway Hotel Pasumalai Madurai amongst others.
Source: www.financialexpress.com”