Tata Group stock engaged in the business of owning, operating & managing hotels, palaces, and resorts slips upto 4 percent in the day’s trade upon posting muted results for the quarter/year ended March 31, 2024.
With a market capitalization of Rs. 2,362 Crores, the shares of Oriental Hotels Limited were trading at Rs. 132.25, down 1.49 percent from its previous day’s close price of Rs. 134.25.
Tata Group’s subsidiary Oriental Hotels Limited has announced the financial results of the company for the quarter/year ended March 31, 2024, as follows
Its revenue from operations declined by 3.51 percent YoY from Rs. 111.40 Crores in Q4FY23 to Rs. 107.48 Crores in Q4FY24 and it grew by 5.31 percent QoQ from Rs. 102.06 Crores in Q3FY24 to Rs. 107.48 Crores in Q4FY24. Annually it generated revenue of 392.81 Crores in FY23 and Rs. 391.03 Crores in FY24 indicating a decline of 0.45 percent YoY.
Its Net Profit declined by 8.38 percent YoY from Rs. 18.01 Crores in Q4FY23 to Rs. 16.50 Crores in Q4FY24 and it declined by 2.25 percent QoQ from Rs. 16.88 Crores in Q3FY24 to Rs 16.50 Crores in Q4FY24.Annually it generated a profit of 58.47 Crores in FY23 and Rs. 55.34 Crores in FY24 indicating a decline of 5.35 percent YoY.
Oriental Hotels Limited is an associate company of The Indian Hotels Company Limited (IHCL), it is engaged in the business of owning, operating & managing hotels, palaces, and resorts.
Oriental Hotels Limited operates seven hotels under the IHCL brands of Taj, SeleQtions, and Vivanta with an inventory of 827 rooms which includes 58 suites, and employs around 1180 people
According to the latest shareholding data available for the December 2024 quarter, the company’s Promoters hold a 67.56 percent stake, the Domestic Institutional Investors hold 1.92 percent and the Foreign Institutional Investors (FII) hold 0.69 percent.
Written by: Bharath K.S
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