Oriental Hotels Q2 Results Revenue Soars to ₹103.3 Crores with 26.02% Growth

Oriental Hotels Q2 Results: In the financial results for Oriental Hotels' Q2 of 2024, we can see a strong performance compared to both the previous quarter (QoQ) and the same quarter last year (YoY). The total revenue for Q2 is ₹103.3 crores, which shows a growth of 26.02% from Q1, indicating a positive quarter-on-quarter (QoQ) trend. Year-over-year (YoY), this revenue has also increased by 13.48%, showing that the hotel is growing compared to last year.

Oriental Hotels’ selling, general, and administrative expenses have slightly increased by 1.44% QoQ to ₹23.94 crores, but they have gone up by 8.87% YoY. The depreciation and amortization costs have risen significantly, with a 19.91% increase QoQ and a notable 35.27% YoY growth, which indicates the hotel is investing in its assets.

Oriental Hotels’ Operating income saw a huge jump of 237.73% QoQ, reaching ₹16.65 crores, and a healthy 18.59% YoY increase, suggesting improved profitability. The net income before taxes increased dramatically by 473.64% QoQ, resulting in ₹12.62 crores. When looking at YoY, net income also rose by 10.41%. Finally, the diluted normalized earnings per share (EPS) reached ₹0.32, a significant improvement from last year's performance. 

Here’s the financial summary of Oriental Hotels' Q2 results for 2024, presented in a table format:

Source: Here 

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Oriental Hotels Q2 Results

The Oriental Hotels financial table shows the company's performance for the quarter and half year ended September 30, 2024. For the quarter, the total revenue from operations was ₹10,262 Lakhs, which is higher than the ₹8,136 Lakhs from the previous quarter and also more than the ₹9,039 Lakhs from the same quarter last year. This indicates that the company is earning more money compared to earlier periods.

Oriental Hotels’ total expenses for the quarter were ₹9,100 Lakhs, which is an increase from ₹8,057 Lakhs in the previous quarter. The major expenses include employee benefits, finance costs, and general operating expenses. After subtracting these expenses from the revenue, the profit before tax was ₹1,344 Lakhs. The tax expenses, including current and deferred taxes, totaled ₹424 Lakhs. This means the profit for the period was ₹920 Lakhs.

Oriental Hotels table also shows other comprehensive income, which includes changes in the value of equity instruments. This added an additional ₹294 Lakhs to the total comprehensive income, bringing it to ₹1,214 Lakhs. 

Here’s a summary of the financial results for the quarter and half year ended September 30, 2024, in a simplified table format.

Oriental Hotels Stock Performance

Oriental Hotels has a market capitalization of ₹ 3,126 crores, indicating the total market value of the company's outstanding shares. The current stock price is ₹ 175, with a highest price of ₹ 193 and a lowest price of ₹ 91.2 over a specific period. The stock price-to-earnings (P/E) ratio is 74.0, showing how much investors are willing to pay for each unit of earnings. The book value per share is ₹ 36.0, representing the company's net asset value. The dividend yield is 0.29%, meaning investors earn a small return from dividends. 

Here’s the information formatted in a table for easy reference:

Quarterly Results 

The table shows the financial performance of Oriental Hotels for three quarters: March 2024, June 2024, and September 2024. In March 2024, the hotel earned ₹107.48 crores in sales, with expenses of ₹80.69 crores, resulting in an operating profit of ₹26.79 crores, which is 24.93% of sales. In June 2024, sales dropped to ₹81.97 crores, and expenses decreased to ₹70.26 crores, leading to a lower operating profit of ₹11.71 crores, with an operating profit margin of 14.29%. In September 2024, sales increased to ₹103.30 crores, expenses rose to ₹78.52 crores, and the operating profit was ₹24.78 crores, or 23.99%.

Here’s the data for the quarters Mar 2024, Jun 2024, and Sep 2024, focusing on the key particulars:

(Rs. in crores)

About Oriental Hotels 

Oriental Hotels is a well-known hotel company in India, founded in 1970. Its main goal is to create and manage high-quality hotels. The company's registered office is at Taj Coromandel in Chennai, where it opened its first hotel in 1974. Taj Coromandel is a five-star luxury hotel that helped OHL establish itself in the hospitality industry. OHL works closely with Indian Hotels Company, a part of the Tata Group, which provides technical and operational support.

The hotels managed by OHL are marketed as part of the prestigious Taj Group of Hotels. Over the years, OHL has grown steadily and now operates seven hotels, mainly in southern India, with a strong presence in Tamil Nadu. OHL's shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), making it a recognized player in the hotel industry.