Chalet Hotels Ltd on Tuesday reported a narrowing of consolidated net loss at Rs 11.45 crore for the fourth quarter ended March 2022.

The company had posted a consolidated net loss of Rs 25.98 crore in the same quarter of the preceding fiscal, Chalet Hotels Ltd said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at Rs 148.01 crore compared to Rs 94.9 crore in the year-ago period, it added.

Total expenses in the quarter were higher at Rs 116.59 crore against Rs 92.88 crore a year ago, the company said.

For the fiscal ended March 2022, consolidated net loss was Rs 81.47 crore. The company had posted a net loss of Rs 139.13 crore in FY21.

Consolidated revenue from operations in FY22 was at Rs 507.8 crore compared to Rs 285.57 crore in FY21, the company said.

In 2021-22, the company said its total expenses surged to Rs 409.33 crore from Rs 278.52 crore in 2020-21.

The company said while the COVID-19 outbreak has had an impact on almost all entities either directly or indirectly, the tourism and hospitality industry has been adversely impacted with widespread lockdowns being enforced across the world.

As of March 31, 2022, the group faced significant economic uncertainties due to COVID-19 which impacted the operations of the group adversely, particularly by way of a reduction in occupancy of hotels and average realisation rate per room and a fall in revenue of other assets, it said. PTI RKL BAL BAL

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