Oriental Hotels announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Revenue: Decreased to Rs 110.72 crore from Rs 115.56 crore
- EBITDA: Decreased to Rs 30.14 crore from Rs 36.16 crore
- Profit After Tax: Decreased to Rs 16.32 crore from Rs 17.79 crore
FY24 Financial Highlights:
- Revenue: Slight increase to Rs 409.01 crore from Rs 407.96 crore
- EBITDA: Decreased to Rs 114.17 crore from Rs 126.06 crore
- Profit After Tax: Decreased to Rs 55.34 crore from Rs 58.47 crore
Business Highlights:
- Reported the highest ever annual revenue of Rs 409 crores in FY 2023-24.
- Noted a 12% growth in same-store revenue, despite the ongoing asset upgradation of Taj Malabar Resort & Spa.
- Taj Malabar Resort & Spa is expected to re-open its first phase in May 2024.
- Oriental Hotels Limited maintains market leadership in its key markets.
- 74% of energy consumption in OHL hotels comes from renewable sources, aligning with IHCL's ESG framework of Paathya.
Pramod Ranjan, Managing Director & CEO, Oriental Hotels, said, “In FY24, the company reported its highest ever revenue of Rs 409 crore. This performance was enabled by a 12% growth in same store revenue offsetting the displacement due to asset upgradation of Taj Malabar Resort & Spa, Cochin which is slated to re-open with its first phase in May 2024.”