April 22, 2024

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Royal Orchid Hotels Records Strong Third Quarter Growth

Trav Buzz News, 10th Feb 2024

FY 23-24 Standalone Income at 54.74 CR in Q3 and Consolidated Income at 86.61 Cr in Q3

Royal Orchid Hotels Limited, India’s fastest-growing hospitality chain with a diverse portfolio of 100+ Hotels across 60+ locations, announced its consolidated results today for Q3 FY23-24, as approved by its Board of directors.

Key financial highlights:     

Highlights of Q3 FY 23-24 V/s Q2 FY 23-24 (Standalone) – Increased by %

·       Total Income of Rs. 54.74 CR V/s. Rs. 45.50 CR – 20%

·       EBIDTA of Rs. 19.79 CR V/s. Rs. 14.02 CR – 41%

·       PAT of Rs. 9.28 CR V/s. Rs. 4.94 CR – 87%

·       EPS of Rs. 3.38 V/s. EPS of Rs. 1.80

Highlights of Q3 FY 23-24 V/s Q3 FY 22-23 (Standalone) – Increased by %

·       Total Income of Rs. 54.74 CR V/s. Rs. 48.39 CR – 13%

·       EBIDTA of Rs. 19.79 CR V/s. Rs. 17.36 CR – 14%

·       PAT of Rs. 9.28 CR V/s. Rs. 8.20 CR – 13%

·       EPS of Rs. 3.38 V/s. EPS of Rs. 2.99

Highlights of Q3 FY 23-24 V/s Q2 FY 23-24 (Consolidated) -Increased by %

·       Total Income Rs. 86.61 CR in V/s. Rs 70.07 CR – 23%

·       EBIDTA of Rs. 29.43 CR V/s. Rs. 18.94 CR – 55%

·       PAT of Rs. 15.73 CR V/s.  Rs. 7.67 CR – 105%

·       EPS of Rs 5.60 V/s. EPS of Rs. 2.49

Highlights of Q3 FY 23-24 V/s Q3 FY 22-23 (Consolidated) -Increased by %

·       Total Income Rs. 86.61 CR in V/s.  Rs. 76.53 CR – 13%

·       EBIDTA of Rs. 29.43 CR V/s. Rs 27.75 CR – 6%

·       PAT of Rs. 15.73 CR V/s.  Rs. 15.18 CR – 3%

·       EPS of Rs. 5.60 V/s. EPS of Rs 5.27

IND-AS 116 adoption led to notional increase in depreciation and finance cost of Rs. 5.29 CR leading to reduction in PAT of Rs. 1.17 CR at standalone level (SA) for QE Dec 2023

Commenting on the results, Mr. Chander K. Baljee, Chairman & Managing Director said, “We are pleased to report broad based growth across portfolio and significant accomplishments including opening of 5 significant properties in last quarter which are a mix of spiritual, business and luxury hotels. The strong performance demonstrates the steadfast devotion and support of our board, the allegiance of our clientele, and the extraordinary zeal and determination of our Royal Orchid Team.”

“Our unwavering commitment remains on value creation for all stakeholders by providing customers with a distinctive hospitality ecosystem that transcends segments, setting examples in local job creation and enhancing local culture, fostering local tourism by focused portfolio building and maintaining a track record of exceptional performance all along.”  He added.