Royal Orchid Hotels Standalone Net Profit for Q2FY19 Declines by 3.8% yoy
ROYAL ORCHID Hotels Limited (ROHL), reported its quarterly numbers which reflect a decline of standalone net profit. The adjusted net profit after tax for Q2FY19 came in at Rs3.03cr as against Rs3.15cr in Q2FY18. The marginal decline in net profit is on account of rising in rental and power expenses coupled with an increase in the effective tax rate.
The standalone revenue for the quarter came in at Rs26.96cr, up by 9.1 percent yoy. This is on account of rise in occupancy levels, rise in ARR and new management contracts despite a seasonally weak second quarter. The EBITDA increased by 20.2 percent yoy, to Rs4.89cr in Q2FY19. The EBITDA margin expanded by 169bps to 18.1 percent in Q2FY19.
The finance cost declined by 14.9 percent yoy to Rs1.15cr in Q2FY19 with a decline in the standalone net debt to Rs22.9cr as on September 30, 2018 vs. Rs28.1cr as on March 31, 2018. Royal Orchid Hotels has opened new hotel, Regenta Resort in Bharatpur, Rajasthan taking a total number of properties to 49.
In a press statement released by the company, Chander K Baljee, Managing Director stated that ROHL will strive to diverse geographically and expand into tier 2 and 3 cities across India.
