Oriental Hotels Reports Record Revenue of Rs 409 Cr in FY24

Chennai, Apr 19 (PTI) Oriental Hotels Ltd, an associate company of The Indian Hotels Company Ltd has registered its highest standalone revenues of Rs 409.01 crore for the financial year 2023-24.



The company has garnered standalone revenues of Rs 407.96 crore during the corresponding year of last year.




Oriental Hotels Ltd in a statement on Friday said it has registered a standalone profit of Rs 16.33 crore, for the January-March 2024 quarter, as compared to Rs 16.43 crore, registered in the same period of last year.



For the year ended March 31, 2024, the standalone profit stood at Rs 55.34 crore, as against Rs 58.47 crore registered in the same period of last year.




Total standalone revenues during the quarter under review slipped to Rs 110.73 crore, from Rs 115.56 crore registered a year ago.




For the financial year ending March 31, 2024, the standalone revenues grew to Rs 409.01 crore, from Rs 407.96 crore registered last financial year.




Commenting on the financial performance, Oriental Hotels Ltd Managing Director and CEO Pramod Ranjan said, "In FY2024, the company reported its highest ever revenue of Rs 409 crore."




"This performance was enabled by a 12 percent growth in same-store revenue offsetting the displacement due to asset upgradation of Taj Malabar Resort and Spa, Cochin which is slated to re-open with its first phase in May 2024," Ranjan added.