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Royal Orchid Hotels reports 26% rise in revenue from operations, 82% EBITDA growth in Q3 FY18

Friday, February 2, 2018, 17:00 Hrs  [IST]
HBI Staff | Mumbai

Royal Orchid Hotels Limited, a leading hotel chain operating 5 and 4-star hotels for business and leisure travellers, yesterday reported its third quarter financial results for the quarter ended 31st December 2017.

The hotel chain saw an increase in revenue from operations by 26% in Q3 FY18 as compared to Q3 FY17 while the EBIDTA increased by 82% in Q3 FY18 as compared to the same quarter last year.

Listing the highlights of y-o-y performance for Q3, the company has recorded INR 28.40 cr of revenue from operations in FY18 against that of INR 22.47 cr in FY17. The EBIDTA surged from INR 3.78 cr in Q3 FY17 to INR 6.87 cr this year. The profit after taxes stood at INR 4.22 cr for the quarter ended December 2017 as against INR 4.17 cr in the same quarter ended December 2016. The earnings per share increased to INR 1.55 in Q3 FY18 compared to that of INR 1.53 in Q3 FY17.

Commenting on the results, Chender Baljee, Managing Director, said, “We are delighted to share that we’re reaping the benefits of the asset light model and have made a profit on consolidated level. For the third quarter of this fiscal year we added two new properties, taking our total count to 49 hotels. Going forward we plan to rapidly expand through management contracts and enhance our presence across destinations in India.”

 
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