Oriental Lodges Ltd, an affiliate firm of The Indian Lodges Firm Ltd, is effectively poised to document a double-digit income progress throughout the second half of the monetary yr, a high official stated on Tuesday. The corporate declared its monetary efficiency for the second quarter and for the six month interval ending September 30, 2024. The standalone revenue after tax (PAT) for the quarter ending September 30, 2024 stood at INR 9.20 crore, as towards INR 10.38 crore registered within the yr in the past interval. Whole revenues throughout the July-September 2024 interval grew to INR 104.43 crore, from INR 95.42 crore registered a yr in the past. For the six month interval ending September 30, 2024 the revenue after tax slipped to INR 12.84 crore, from INR 22.58 crore registered throughout the corresponding interval of final yr. Whole revenues throughout April-September 2024 interval stood at INR 189.21 crore as in comparison with INR 192.21 crore registered in the identical interval of final yr. “In Q2 FY25, Oriental Lodges Ltd has reported a income progress of 9.5 % and a wholesome EBITDA (Earnings Earlier than Curiosity, Taxes, Depreciation and Amortisation) margin of 25 %.” firm managing director and CEO Pramod Ranjan stated. “With the completion of all main renovations and given the demand buoyancy within the upcoming quarters, the second half of the fiscal is effectively poised for a double-digit income progress,” he stated. The corporate has seven accommodations together with Taj Coromandel, Chennai, Taj Fisherman’s Cove Resort and Spa Chennai, Taj Malabar Resort and Spa, Cochin, Vivanta Coimbatore, Vivanta Mangalore, Gateway Madurai and Gateway Coonoor. This yr, the long-lasting Taj Coromandel in Chennai celebrates its fiftieth yr milestone, the corporate stated. “In step with Oriental Lodges Ltd technique of being a pacesetter in all its markets, we might be finishing a complete upgradation for the remaining accommodations together with in Coimbatore. We will even be evaluating growth of our present land in Sriperumbudur, an rising micro-market of Chennai,” Ranjan stated.
Revealed On Oct 16, 2024 at 11:00 AM IST
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