Apeejay Surrendra Park Hotels Sees Drop in Q4 Profit to Rs 11.88 Crore

Apeejay Surrendra Park Hotels reported a drop in Q4 profit to Rs 11.88 crore, down from Rs 26.58 crore a year prior. The company saw increased revenue and expenses, and expanded its hospitality portfolio in key locations. It plans to significantly boost room inventory over five years.

Apeejay Surrendra Park Hotels Ltd experienced a decline in its quarterly profit, recording Rs 11.88 crore for Q4, compared to Rs 26.58 crore in the same period last year. However, revenue from operations climbed to Rs 183.70 crore from Rs 177.32 crore, according to their latest financial disclosure.

The company's total expenses also increased to Rs 130.71 crore, up from Rs 115.23 crore year-on-year. Despite these financial results, the firm acquired control of several hotels, enhancing its presence in high-demand areas like Mumbai and Kerala. Aiming to double its room inventory in the next five years, the company continues to expand its hospitality offerings. Apeejay's bakery brand, Flurys, operates 110 outlets with plans for further growth.

In an annual highlight, the company's revenue surpassed Rs 700 crore for the first time. Despite the profit dip, managing director Vijay Dewan emphasized resilience in their operational performance, with strong occupancy rates and revenue per available room. He noted successful sales of serviced apartments in Kolkata, boosting cash flow, and reiterated the commitment to long-term value creation for shareholders through strategic expansions and improved guest experiences.