Oriental Hotel reports first net profit in Q3 post seven quarters of net losses

News: Oriental Hotels posted revenue growth of 76.8% YoY to Rs.76.01 crore led by sharp rebound in the room demand post settling down of Covid cases. It reported PAT of Rs.7.1 crore aided by healthy traction in margins.

Views: While tourism demand rebounded sharply, the cost efficiency measures initiated during Covid era led to a sharp rebound in margins as well. The quarterly margin of 25.7% remains best ever so far since FY13 in our view. We expect the same to sustain, going forward.

Impact: Neutral