Mumbai– Leela Palaces Hotels & Resorts reported a sharp sequential decline in consolidated net profit for the first quarter of fiscal 2026-27, although earnings and revenue improved significantly from a year earlier.
The hospitality company posted a net profit of Rs 49 crore for the quarter ended June 30, down 71.5% from Rs 171.7 crore in the January-March quarter, according to a stock exchange filing.
Compared with the same quarter a year earlier, however, net profit surged 444% from Rs 9 crore.
Revenue from operations fell 27.3% sequentially from Rs 484.4 crore in the preceding quarter. On a year-over-year basis, revenue rose 28% to Rs 352 crore from Rs 275 crore.
Operating performance also strengthened from a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization increased 41.6% to Rs 143 crore from Rs 101 crore.
The adjusted EBITDA margin expanded to 40.6% from 36.7% in the corresponding quarter of the previous fiscal year.
Alongside the earnings announcement, the company’s board approved the acquisition of Schloss Tadoba Private Ltd. for Rs 120 crore. The consideration will be paid in one or more installments.
Schloss Tadoba is a wholly owned subsidiary and a related party of Leela Palaces Hotels & Resorts. The acquisition is expected to be completed by the end of calendar year 2030.
Shares of Leela Palaces Hotels & Resorts were trading 3.82% higher at Rs 486 on the National Stock Exchange following the earnings announcement. (Source: IANS)
