Mumbai–Oriental Hotels Limited reported a 20 percent decline in consolidated net profit for the first quarter of fiscal 2027, even as revenue increased from a year earlier.
The hospitality company posted a net profit of Rs 5.3 crore for the April-to-June quarter, down from Rs 6.6 crore in the same period a year earlier, according to a regulatory filing.
Revenue from operations rose 3 percent year over year to Rs 111 crore from Rs 108 crore.
Oriental Hotels’ shares fell nearly 6 percent after the results were announced, dropping as low as Rs 125 during the trading session before recovering some of the losses.
The stock was trading at about Rs 126.10 following the earnings announcement, after reaching an intraday high of Rs 136.40 earlier in the session.
Shares closed at Rs 130.60 on the Bombay Stock Exchange, down Rs 2.85, or 2.14 percent.
The stock remains below its 52-week high of Rs 169, while its 52-week low is Rs 80.50. Oriental Hotels has a market capitalization of about Rs 2,311 crore.
Pramod Ranjan, Managing Director and CEO of Oriental Hotels Limited, said the company delivered steady first-quarter performance, with EBITDA of Rs 26.6 crore.
“With extensive asset enhancement initiatives across the OHL portfolio and continued strength in domestic demand, the company is well-positioned to deliver a sustained performance in the quarters ahead,” Ranjan said.
Oriental Hotels is an associate company of The Indian Hotels Company Limited.
Its portfolio includes seven properties: Taj Coromandel in Chennai; Taj Fisherman’s Cove Resort & Spa in Chennai; Taj Malabar Resort & Spa in Cochin; Vivanta Coimbatore; Vivanta Mangalore; Gateway Madurai; and Gateway Coonoor. (Source: IANS)
