Oriental Hotels Ltd has reported a standalone profit at Rs 18.67 crore for the October-December 2022 quarter, the company said on Tuesday.
The company, part of the Taj Group of Hotels, has reported standalone profit at Rs 7.14 crore during corresponding quarter of previous year.
For the nine-month period ending December 31, 2022 the standalone profit grew to Rs 40.68 crore as against a net loss at Rs 14.66 crore registered in the corresponding period of previous year, Oriental Hotels Ltd said in a statement.
The standalone total income during the quarter under review went up to Rs 110.77 crore from Rs 79.01 crore recorded in the same period of previous year.
For the nine-month period ending December 31, 2022 the standalone total income surged to Rs 292.40 crore from Rs 157.41 crore recorded in the same period of previous year.
In a statement, the company said with EBITDA (Earnings before interest, taxes, depreciation and amortisation) of Rs 37.37 crore in Q3 FY 2022-23, it grew by 66 per cent as compared to Rs 22.51 crore registered in the same period of last year.
"The sustained increase in demand across all segments has resulted in a significant increase in both revenue and EBITDA. OHL continues to retain its leadership position in its key markets," company Managing Director and CEO Pramod Ranjan said.
"For the first nine months of the fiscal year, the company reported its highest ever EBITDA of Rs 90 crore. This strong performance over three consecutive quarters has led to a robust EBITDA margin of 31 per cent to date," he said.
In another development, Oriental Hotels Ltd has received the allotment order from the Cochin Port Trust for long term lease for Taj Malabar Resort and Spa, Kochi for a period of 30 years beginning September 2022, the company said.