Royal Orchid Hotels’ Standalone Adjusted Net Profit For Q4FY18 Came In At 1.44cr vs. 0.15cr In Q4FY17

Royal Orchid Hotels reported its quarterly numbers on May 28, 2018. The standalone revenue for the quarter came in at Rs26.27cr, up by 7.8% yoy. This is on account of rise in occupancy levels, rise in ARR and new management contracts entered during the quarter. The EBITDA increased by 7% yoy, in-line with the revenue, to Rs4.36cr in Q4FY18. The EBITDA margin declined marginally by ~12bps to 16.6% in Q4FY18. The adjusted net profit after tax for Q4FY18 came in at Rs1.44cr as against Rs0.15cr in Q4FY17.

The consolidated revenue for FY18 increased by 8.3% yoy to Rs189.45cr in Q4FY18. The consolidated revenue was in-line with our estimates. The consolidated EBITDA for FY18 stood at Rs29.36cr, up by 55% yoy. The EBIDTA margin improved by ~466bps yoy to 15.5% in FY18. The EBITDA beat our estimates by 22.4%. The adjusted consolidated net profit attributable to equity shareholders stood at Rs1.93cr in FY18 as against adjusted net loss of Rs3.45cr in FY17. The consolidated net profit missed our estimates by 51.9%

The exceptional gain during the quarter comprises of Rs1.45cr towards settlement on account of termination of the hotel operation agreement of a hotel at Chandigarh. The adjusted consolidated other expenses increased significantly by 10.3% yoy to Rs62.66cr in FY18. The consolidated other incomes for FY18 stood at Rs8.93cr in FY18 as against Rs12.76cr in FY17.

Total debt of the company (long and short term) reduced to Rs99.37cr as on March 31, 2018 as against Rs104.17cr as on March 31, 2018. The consolidated finance cost for FY18 declined by 5% to Rs14.69cr.

The board of directors declared a dividend of Rs1.5 per share subject to shareholders’ approval in annual general meeting.
 
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