Sterling Holiday Resorts Q1 PAT of Rs 11 mn

India Infoline News Service | Mumbai |

Total Operating Income for the quarter rose to INR 465 million, up 17% from the corresponding quarter of the previous year.

Sterling Holiday Resorts (India) Limited (STERLINH), a leading Leisure Hospitality company in India, and a pioneer in Vacation Ownership, today, announced its results for the quarter ending June 30, 2014.

Total Operating Income for the first quarter of FY15 was reported as INR 465 million, an increase of 17% over the same period of the previous fiscal. Resort occupancy increased to 71% from 64%, resulting in an increase in Total Income from Resort Operations to INR 205 million, as compared to INR 177 million in the same period of last year. Income from Sales of Vacation Ownership Plans was reported as INR 173 million, a growth of 24%. The Company declared EBITDA of 75 million and a Profit after Tax of INR 11 million for the quarter.

Ramesh Ramanathan, Managing Director, Sterling Holidays said, “Over the last year, we have been seeing positive growth trends in resort occupancy from members and other guests, revenue growth and profitability. These trends are reflected in our Q1 performance. The positive momentum gives us the confidence to accelerate the pace of expansion of our destination network. Over the next few months we will be announcing a string of new resorts in Corbett, Daman, Dindi, Nainital and Sariska.”
 

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