Royal Orchid Hotels Ltd announces Q4FY20, FY2020 results

Royal Orchid Hotels Limited, one of India's leading hotel companies operating in the luxury, midmarket and budget category currently operating 58 hotels across 38 locations in India, today reported its financial results for the quarter and year ended 31st March 2020.

Standalone Results:

Highlights of FY20 v/s FY19

- Revenue from operations Rs 114.84 cr in v/s. Rs 112.59 cr
- EBIDTA of Rs 28.86 cr v/s. Rs 26.75 cr
- PAT of Rs 9.34 cr v/s. Rs 12.57 cr

Consolidated Results:

Highlights of FY20 v/s FY19

- Revenue from operations Rs 205.03 cr in v/s. Rs 203.83 cr
- EBIDTA of Rs 45.31 cr v/s. Rs 48.82 cr
- PAT of Rs 5.08 cr v/s. Rs 13.11 cr

Commenting on the results Mr. Chander K Baljee, Chairman & Managing Director said, "For FY20, our performance had been in line with our business strategy until March 2020. Business has been greatly affected from the month of March owing to the global COVID-19 pandemic. The lockdown announced by the government and various travel restrictions and curfews imposed at central as well as state level have negatively impacted our business operations. Going forward, we are determined to keep operations moving with a large focus on lowering operating costs, greater efficiency, and newer streams of revenue including small weddings, outdoor catering, food delivery and shared workspaces.

Also, we have announced the 'Safety Assured' campaign which focuses on guest as well as staff safety across all our hotels, ensuring that people can continue to stay, dine and celebrate at our various hotels across India.

We are aggressively pursuing the asset light model by adding hotels on management contract, franchise and revenue sharing model, and hope to reach 100 hotels in the next two years."

Shares of ROYAL ORCHID HOTELS LTD. was last trading in BSE at Rs.57.5 as compared to the previous close of Rs. 56.8. The total number of shares traded during the day was 6929 in over 147 trades.

The stock hit an intraday high of Rs. 65 and intraday low of 57. The net turnover during the day was Rs. 402116.

Source : Equity Bulls

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