- 14 Nov 2022
- ICICIdirect Research
LEMON TREE HOTELS POSTS Q2FY23 NUMBERS
LEMONTREE - 137 Change: -2.17 (-1.56 %)News:
Lemon Tree Hotels reported revenue growth of 103% YoY, 2.4% QoQ to Rs 196.7 crore. It was also up 29% from pre-Covid levels. EBITDA margins improved 98 bps QoQ to 47.6%. This remained second best despite a lean season. Net profit came in at Rs 19.3 crore vs. loss of Rs 33.2 crore last year and loss of Rs 3.0 crore during Q2FY20
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Despite a seasonally weak quarter, the company managed to improve its margin further sequentially, leading to healthy growth in profitability. The strong room rates and cost control measure were key pillars for such a robust performance during this season. While occupancy levels stayed 860 bps lower than pre-Covid levels during Q2, the onset of peak season along with busy wedding season would inch up occupancy and room rates further in H2FY23. That should lead to further margin expansion, going forward
Impact:
Positive