Sinclairs Hotels witnesses 23.90% surge in nine-month EBITDA

13 Feb 2024 , 09:26 PM

Sinclairs Hotels Ltd. reported a total income of ₹4,826.39 Lakh in the nine months ended December 2023 as compared to ₹4,309.65 Lakh in the previous corresponding period. It logged an EBITDA of ₹2,362.33 Lakh for the nine-month period ending December 31, 2023, as compared to ₹1,906.67 Crore for the nine months ended December 2022.

The profit before tax for the period was ₹1,902.76 Lakh as compared to ₹1,485.22 Lakh in the previous comparable period. While the profit after tax was ₹1,521.99 Lakh, compared to ₹1,132.97 Lakh in the same period last year.

The Company’s Total Income for the quarter ended December 31, 2023 was ₹1,611.90 Lakh, up 6.66% from 1,511.21 Lakh in the same period last year.

EBITDA for the quarter was ₹780.57 Lakh against ₹688.19 Lakh in the previous corresponding quarter. Profit Before Tax is reported at ₹639.90 Lakh in Q3FY24 compared to ₹539.29 Lakh in Q3FY23. Profit After Tax came in at ₹547.30 Lakh in the current period under review as compared to ₹404.48 Lakh in Q3FY23.

Further, on October 25, 2023, the company executed a buyback of 15,20,000 equity shares of ₹2 each at at value of ₹200/- a share, totaling ₹30,40,00,000, reducing the paid-up share capital to ₹512.60 Lakhs.

The firm plans to expand by acquiring hotel assets in Rajasthan and Himachal Pradesh under lease or management contracts. Negotiations with property owners are nearing completion.

Sinclairs establishments in Ooty, Darjeeling, Burdwan, Dooars, Kalimpong, Siliguri, and Gangtok received the TripAdvisor tourists’ Choice Award 2023, based on ratings from global tourists. This yearly award acknowledges top tourism facilities for exceptional service, quality, and customer satisfaction across many categories.

For feedback and suggestions, write to us at [e-mail]