- 21 Apr 2023
- ICICIdirect Research
ORIENTAL HOTELS DELIVERS STRONG OPERATIONAL PERFORMANCE
ORIENTHOT - 152 Change: -2.53 (-1.63 %)News: Oriental Hotels reported a strong operational performance for Q4FY23. Consolidated revenue grew 69% YoY (on a favourable base) to Rs 111 crore (QoQ growth of 5%). The company reported EBITDA margin expansion of 1120 bps YoY to 28.7% (QoQ decline of 180 bps). Absolute EBITDA was at Rs 32 crore in Q4FY23 vs. Rs 11.6 crore in Q4FY22 ( Q3FY23 : 32.3 crore). Higher other income (up 85% YoY, 217% QoQ) boosted profitability. Consequently , the company reported a net profit of Rs 20.7 crore in Q4FY23 vs. Rs 0.04 crore in Q4FY22 (Q3FY23 : Net profit of Rs 15.5 crore)
Views: The company leveraged the brand strength of Taj, Vivanta and SeleQtions to capture the increased demand. It has been able to sustain the occupancy and average room rate levels that were witnessed in Q3FY23 and delivered a strong quarterly profit performance for Q4FY23
Impact: Positive