Oriental Hotels gains 2% after Q3 PAT turns around to Rs7.14cr

25 Jan 2022 , 11:02 AM

Oriental Hotels Limited on Monday reported its results for the third quarter of FY22 ending December 31, 2021. The company saw a turnaround in Q3FY22 Profit After Tax (PAT) to Rs7.14cr from a loss of Rs7.63cr in Q3FY21. Revenue jumped 81% yoy to Rs79.01cr in Q3FY22 from Rs43.53cr in Q3FY21. EBITDA was at Rs22.51cr in the quarter under review than Rs1.72cr in Q3FY21.

Ata round 11.01 am, Oriental Hotels Ltd was trading at Rs53.65 per piece up Rs1.00 or 1.90% from its previous closing of Rs52.65 per piece on the BSE.

Pramod Ranjan, Managing Director & CEO, Oriental Hotels Ltd. said, “OHL has recorded a profit after tax (PAT) of Rs7.14cr for the third quarter with a revenue of Rs79.01cr. The improved performance can be attributed to the upswing in the market demand as well as revenue and cost optimization initiatives of the management”

Key Highlights

• IHCL has been recognized across categories at the global Worldwide Hospitality Awards 2021.

Qmin, IHCL’s culinary and food delivery platform, received Best Team Achievement – Four OHL hotels are on the Qmin platform
– INNERgise by Jiva Spa achieved the Best Wellness Experience award – Three OHL hotels operate Jiva Spa

• Taj Malabar Resort & Spa, Cochin had the proud privilege of hosting Shri Ram Nath Kovind, President of India