Oriental Hotels has reported a net loss of Rs4.64cr for the quarter ending March 2021 (Q4FY21) period, widening from a net loss of Rs0.18cr a year ago same period.
The company’s revenue was at Rs54.21cr in the quarter under review, declining against Rs72.20cr in the similar period a year ago.
Pramod Ranjan, Managing Director & CEO, Oriental Hotels Ltd. said, “All our hotels resumed operations in a staggered manner after the lockdowns were lifted. With the unlocking of restrictions, all the hotels witnessed some recovery of demand, especially in leisure destinations. The company reported a 324% increase in EBITDA and 25% increase in revenue over Q3 FY 20/21.”
Meanwhile, on Covid=19 impact, Oriental Hotels said that the company has taken a series of actions to ensure adequate liquidity and cost optimization. Cash Conservation measures have included a deferral of discretionary spending and Capex, unless absolutely
Also, Oriental Hotels said, “We expect a recovery in business to be driven by domestic leisure and business tourism. We do not expect any significant challenge to our supply chain. We will keep our investors and other stakeholders informed with relevant updates.”
At around 12.20 pm, Oriental Hotels trade at Rs24 per piece higher 5.5% on Sensex.
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( With inputs from indiainfoline)