Oriental Hotels Ltd. has reported its financial results for the second quarter ending September 30, 2024. The company witnessed a slight decline in net profit while achieving notable revenue growth compared to the same period last year.
For Q2 FY24, the net profit stood at ₹9.2 crore, down from ₹10.4 crore in the corresponding quarter last year. Despite this dip in profit, Oriental Hotels recorded a revenue increase of 13.93%, reaching ₹103 crore as compared to ₹90.4 crore in Q2 FY23.
The company also posted improved EBITDA figures, with EBITDA for the quarter coming in at ₹24.3 crore, up from ₹19.6 crore in the same quarter last year. This reflects an EBITDA margin improvement to 23.64% from 21.72% year-on-year.
Oriental Hotels continues to focus on operational efficiencies while navigating a challenging environment, which is reflected in the marginal profit decline but improved revenue and margin performance.
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