Royal Orchid Hotels posted a jump of 164.92 per cent y-o-y to ₹15.18 crore in the third quarter of FY23 compared with ₹5.73 crore in Q3 FY22.
The hospitality chain saw its net revenues increase by 37.34 per cent to ₹72.49 crore, compared with ₹52.78 crore in the same quarter last year. While EBIDTA grew by 45.52 per cent to ₹27.75 crore compared with ₹19.04 crore in Q3 FY22.
“The third quarter of 2022–23 has surpassed our expectations. The buoyancy of the market is a positive indication of what lies ahead in the year to come. We are confident that we will achieve our targets this year, with a growing occupancy of over 80 per cent just in the last quarter. The forthcoming summer season looks promising and is a sign of opportunity and profitability,” said Chander K Baljee, Chairman and Managing Director.
He also stated that this year’s focus will be on Regenta by Royal Orchid Hotels, which plans to expand to 100 hotels by the end of the year.
For Q3, the company announced earnings per share of ₹5.27, compared with ₹1.61 in Q3 FY22. Currently, Royal Orchid operates more than 80 hotels across 50 locations in the country.