The shares of recently-listed Leela Palaces Hotels & Resorts dropped more than 8 percent on October 14 after the company reported a net profit of Rs 74.7 crore for the second quarter of the financial year 2026, as against a net loss of Rs 51.17 crore in the same period last year.
The shares of the company hit an intraday low of Rs 427.45 apiece after the release of the results.
Leela Palaces Q2 Results:
The company on October 14 reported consolidated revenue from operations at Rs 310.65 crore during the quarter under review, as against the Rs 277.15 crore reported in the same period last year.
The firm's EBITDA meanwhile improved over 17 percent YoY to Rs 160.7 crore in Q2 FY26.
Leela Palaces to invest $50 million in wholly-owned subsidiary:
Along with the Q2 results, Leela Palaces Hotels & Resorts announced that it will invest $49.667 million in its wholly owned subsidiary Aries Holdings to explore business opportunities in the United Arab Emirates (UAE). The investment will be completed by the end of 2025, the company said.
Leela Palaces market debut:
The shares of Leela Palaces Hotels & Resorts, which was then known as Schloss Bangalore, had made a weak market debut on June 3 this year. The shares listed at a discount of 6.67 percent over the IPO price of Rs 435 apiece.
However, after the weak market debut, the stock saw significant volatility. The shares of the company soared nearly 7 percent to close slightly below the IPO price at Rs 434 apiece on debut day.
The Rs 3,500-crore IPO of Schloss Bangalore was subscribed 4.5 times during May 26-28. Qualified Institutional Buyers (QIBs) showed the most interest in the issue, booking their reserved portion nearly 7.46 times. Non-institutional investors (NII) followed, reserving the portion kept for them 1.02 times. The portion reserved for retail investors however was undersubscribed, being booked 83 percent.
The shares later made some recovery to close 6.75 percent lower at Rs 434 apiece.
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