Oriental Hotels reports Q4FY22 results

News: Oriental Hotel’s revenue for Q4FY22 declined 13% QoQ to Rs 66.1 crore due to lockdown during Jan-22 on account of omicron. Margins were also lower by 800bps QoQ to 17.5%. This led to a marginal PAT of Rs4 lac vs Rs9.2 crore reported in Q3. However, performance was better compared to last year with revenue and EBITDA growth of 25% and 99% YoY, respectively

Views: While performance remained weak due to omicron led restrictions during January 2022, the outlook for business remain upbeat with business during April 2022 is trending higher than pre-Covid year (April 2019). Hence, we expect significant traction in financial performance, going forward

Impact: Neutral