Oriental Hotels posts 236% yoy increase in revenue at Rs25.40cr; Stock ends higher

The company narrowed loss to Rs16.83cr in Q1FY22 compared to a loss of Rs23.40cr in Q1FY21.

Jul 28, 2021 04:07 IST India Infoline News Service

Oriental Hotels Limited (OHL) reported its results for the first quarter of FY22 ending June 30, 2021. The company reported a loss of Rs16.83cr in Q1FY22 compared to a loss of Rs23.40cr in Q1FY21. Revenue increased 236% yoy to Rs25.40cr in Q1FY22 compared to Rs7.55cr in Q1FY21. EBITDA was at - Rs11.77cr in Q1FY22 compared to - Rs21.15cr in Q1FY21.

Pramod Ranjan, Managing Director & CEO, Oriental Hotels Ltd. said, “The second wave of COVID-19 has taken a significant toll on the travel and hospitality sector. However, the company witnessed some green shoots of recovery through both corporate and leisure businesses. This has resulted in a 236% increase in revenue and 44% increase in EBITDA over that in Q1FY21.”

The company said, the iconic brand, Taj, has been rated the World’s Strongest Hotel Brand by Brand Finance, the world's leading brand valuation consultancy. It has also been rated as the Strongest Hospitality Brand in India by Brand Finance. Three OHL hotels are branded as Taj hotels

OHL has organized vaccination camps across its hotels and all eligible associates including our contract workforce have been administered the first dosage of vaccine. 38% of them have been administered the second dosage based on eligibility. Further, 500 plus family members have also benefited through the vaccination drive.

Oriental Hotels Ltd ended higher at Rs36.90 per piece, up by Rs0.7 or 1.93% from its previous closing of Rs36.20 per piece on the BSE.

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