Oriental Hotels Ltd Eyes Double-Digit Growth Amid Strategic Expansion

Oriental Hotels Ltd anticipates double-digit revenue growth in the latter half of the fiscal year. Despite a dip in profits, the company reported increased revenues and aims to complete major renovations. Celebrating the 50th year of Taj Coromandel, it plans further upgradation and land development strategies.

Oriental Hotels Ltd, a significant associate of The Indian Hotels Company Ltd, is strategically poised for a double-digit revenue growth in the second fiscal half, according to a senior executive's statement on Tuesday.

The financial results for the second quarter and the six-month period ending September 30, 2024, reveal a dip in standalone profit after tax to Rs 9.20 crore from last year's Rs 10.38 crore. However, total revenues rose to Rs 104.43 crore during July-September 2024 from Rs 95.42 crore the previous year.

For the six-month period ending in September, profits fell to Rs 12.84 crore from Rs 22.58 crore in the previous year, with total revenues at Rs 189.21 crore, slightly down from Rs 192.21 crore last year. Under the leadership of Managing Director and CEO Pramod Ranjan, Oriental Hotels Ltd has reported a 9.5% revenue growth for Q2 FY25 and a robust EBITDA margin of 25%, supported by strategic renovations and anticipated high demand in upcoming quarters.

(With inputs from agencies.)