Latest News | Oriental Hotels Ltd Reports Q3 Standalone Net at Rs 16.43 Cr

Chennai, Jan 22 (PTI) Oriental Hotels Ltd, an associate company of The Indian Hotels Company Ltd, on Monday reported a standalone profit for the October-December 2023 quarter at Rs 16.43 crore.

The company had reported a standalone profit at Rs 18.67 crore during the corresponding quarter of previous year.

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For the nine month period ending December 31, 2023 the standalone net profit stood at Rs 39.01 crore, as against Rs 40.68 crore registered in the same period of last year.

The standalone total income during the quarter under review slipped to Rs 106.07 crore, from Rs 110.77 crore registered during the corresponding quarter of last financial year.

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The standalone total income for the nine month period ending December 31, 2023 grew to Rs 298.28 crore, from Rs 292.40 crore registered in the same period of last year.

Company Managing Director and CEO Pramod Ranjan said, "In line with our strategy of maintaining leadership in the markets we operate in, this fiscal our hotels in Coonoor and Cochin were under comprehensive renovation."

"The iconic Taj Malabar Resort and Spa, Cochin is slated to re-open in Q4FY2023-24. On a same store basis OHL hotels reported a 10 per cent growth in revenue in Q3 over same time last year," he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)