Sinclair Hotels posts 530% y-o-y increase in revenue in June quarter; stock zooms ~2%

12 Aug 2022 , 09:15 AM

Sinclair Hotels Limited announced its results for the quarter ended June 30, 2022.

The company posted a Total Income of Rs1,868.08 lakh, recording a 530% yoy jump over Rs296.34 lakh for the corresponding quarter in the previous year.

EBIDTA for the quarter ended June 30, 2022, stood at Rs890.36 lakh as against Rs27.19 lakh in Q1FY22. Profit Before Tax stood at Rs755.54 lakh as against a loss of Rs125.66 lakh in the previous corresponding quarter.

Company’s Profit After Tax for the quarter stood at Rs572.57 lakh as compared to a loss of Rs93.56 lakh in the previous corresponding quarter, being the company’s best-ever quarterly performance.

The Company stated that it continues to be debt free and its Other Equity (excluding revaluation reserve) stood at Rs10,347.62 lakh, as on March 31, 2022.

Company’s seven properties received TripAdvisor Travellers’ Choice Award 2022 and ranked among the top 10% of hotels worldwide.

The Company successfully completed a buy-back offer of 7,00,000 fully paid-up Equity Shares of Rs2 each at a price of Rs143 per Equity Share.

The Company’s margins are healthy in comparison with the industry standards.

At around 9.20 AM, Sinclairs Hotels was trading at Rs104.05 up by Rs1.85 or 1.81% from its previous closing of Rs102.20 on the BSE. The scrip opened at Rs104.85.