News Hot Pursuit

Lemon Tree Hotels Q3 profit drops 2% to Rs 12.20 cr
14-Feb-20   15:30 Hrs IST

Net sales surged 39.3% year-on-year (YoY) to Rs 199.62 crore in Q3 FY20. Profit before tax slipped 9.9% to Rs 15.64 crore YoY. Current tax expenses slumped 64.4% to Rs 1.50 crore during the period under review. The result was announced after market hours yesterday, 13 February 2020.

EBITDA climbed 65.7% to Rs 81 crore during Q3 FY20 as against Q3 FY19. EBITDA margin stood at 40.7% in Q3 FY20 as compared to 34.2% in Q3 FY19.

The average daily rate rose 4% to Rs 4,644 in Q3 FY20 as against Rs 4,465 in Q3 FY19. The occupancy rate fell to 71.3% in Q3 FY20 from 72.8% in Q3 FY19. The revenue per available room (RevPAR) rose 1.9% to Rs 3,311 in Q3 FY20 as compared to Rs 3,249 in Q3 FY19.

Commenting on the Q3 FY20 performance, Patanjali Keswani, the chairman & managing director of Lemon Tree Hotels, has said that, I am pleased to share that we have delivered strong performance during the quarter despite subdued market sentiments and external challenges in certain micro markets. In Q3 FY20, our revenue from operations grew by 39.3% YoY primarily driven by the addition of 978 rooms over the last one year and acquisition of Keys Hotels.

On the operational front, our team is doing a remarkable task of seamlessly consolidating operations. As there are significant opportunities to derive multiple synergies from this acquisition, we are confident of delivering strong operational and financial performance from Keys Hotels in the upcoming quarters.

During the year, we have operationalized 3 large owned Hotels at Mumbai, Udaipur and Kolkata. Going forward, even as we anticipate the industry cycle to positively turn in the near-term, we continue to build on our cost leadership and strengthen our leading position in the mid-priced hotel segment in India. We believe, we are well-poised to capitalize on the upcoming opportunities led by the stabilization of a large inventory commissioned in the down-cycle, successful integration of Keys Hotels, and aggressive ramp-up of our asset-light model through managed hotels, he added.

Lemon Tree Hotels operates a chain of upscale business and leisure hotels. The company is engaged in acquiring land, building, leasing, owning, managing and marketing hotels.

Shares of Lemon Tree Hotels rose 2.38% to Rs 56 on BSE. It traded in the range of Rs 54.50 to Rs 57.50 in the intraday.

Powered by Capital Market - Live News

Attention Investors:
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc), you need not undergo the same process again when you approach another intermediary. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account. Prevent Unauthorized Transactions in your Demat account\Trading account: Update your Mobile Number with your Depository Participant\Exchange. Receive alerts on your Registered Mobile for all debit and other important transactions in your Demat account\Trading account directly from Depository\Exchange on the same day.........issued in the interest of investors.
Disclosure of Proprietary Account Trading by Members to Clients
Proprietary Trading Disclosure:In terms of provisions of the Rules, Bye-Laws and Business Rules of the Exchange and with reference to circular MCX/T&S/147/2016 dated May 17, 2016 regarding Disclosure of Proprietary Account Trading by broker to client.,Pursuant to SEBI Circular Number SEBI/MRD/SEC/Cir-42/2003 dated November 19, 2003 & SEBI/HO/CDMRD/DMP/CIR/P/2016/49 dated April 25, 2016 GOODWILL WEALTH MANAGEMENT PVT LTD. Discloses to its clients about its policies on proprietary trades. Goodwill does proprietary trading in the derivatives segment at MCX respectively.GOODWILL – SEBI Reg No. INZ000049087
Copyright © 2016 All rights Reserved GOODWILL
Designed, Developed and content powered by CMOTS Infotech ( ISO 9001:2015 certified )
Filing complaints on SEBI Complaint Redress System (SCORES)
– Easy & quick
  • Register on SCORES portal
  • Mandatory details for filing complaints on SCORES:
    • Name, PAN, Address, Mobile Number, E-mail ID.
  • Benefits:
    • Effective communication
    • Speedy redressal of the grievances.
You can file complaints on SCORES through