The shares of the hospitality services provider fell up to 5 percent after the company’s net profit decreased by 99 percent YoY and 94 percent QoQ in the fourth quarter.
With a market capitalization of Rs 650.84 crore, the shares of Kamat Hotels (India) Ltd were trading at Rs 264.00 per share, decreasing around 3.37 percent as compared to the previous closing price of Rs 273.20 apiece.
Looking into the company’s performance, Kamat Hotels (India) Ltd’s revenue decreased by 2 percent on a quarter-on-quarter basis from Rs. 86.13 crore in Q3FY24 to Rs. 84.51 crore in Q4FY24. Further, revenue increased by 4 percent year on year, from Rs. 80.50 crore in Q4FY23 to Rs. 84.51 crore in Q4FY24.
Kamat Hotels (India) Ltd’s net profit decreased by 94 percent on a quarter-on-quarter basis, from Rs. 41.57 crore in Q3FY24 to Rs. 2.13 crore in Q4FY24. Further, net profit decreased by 99 percent year on year from Rs. 271.16 crore in Q4FY23 to Rs. 2.13 crore in Q4FY24.
Kamat Hotels (India) Limited, the Kamat Group’s flagship company, is known for its worldwide recognized brand, ‘The Orchid’, an Ecotel Hotel. It was Asia’s first network of 5-star, environmentally conscious hotels, positioned in the mid to upper market segment.
The company’s hotels are located in key areas of cities like Mumbai, Pune, and Konark Bhubaneswar. As of FY23, Kamat Hotels operated five brands and 13 hotels in the 4/5-star category, totaling around 1,500 rooms. In FY23, room income accounted for 62% of the company’s revenue, with food and drinks accounting for the remaining 38%.
In the company’s recent shareholding pattern, promoters own 63.34 percent while Retail shareholders own a 36.40 percent stake in the company, and Foreign Institutional Investors own a 0.25 percent stake.
Kamat Hotels (India) Ltd operates in the hotel industry and is situated in India. The company operates hotels and restaurants, including timeshares, clubs, resorts, and historic hotels. It also offers hotel consultation, setups, and other related services. It operates hotels in Maharashtra, Goa, and Orissa.
Written by:- Abhishek Singh
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