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Chalet Hotels Limited announces 1st quarter results for FY20

Posted On: 2019-08-13 19:58:23

Chalet Hotels Limited ("Chalet"), an owner, developer and asset manager of high-end hotels in key metro cities of India, has announced its results for the first quarter of financial year 2019-20.

Chalet Hotels Ltd.'s Total Income for Q1FY20 at Rs. 2,462 Mn as compared to Rs. 2,456 Mn and EBITDA at Rs. 854 Mn as compared to Rs. 871 Mn in the previous year same quarter.

Profit Before Tax (PBT) grew to Rs. 205 Mn as compared to loss of Rs. (297) Mn in the previous year same quarter, indicating a positive growth as a result of healthy capital structuring.

Profit After Tax (PAT) grew to Rs. 139 Mn as compared to loss of Rs. (227) Mn in the previous year same quarter.

Chalet Hotels Ltd.'s Hotel platform comprises five operating hotels and a hotel with a co-located serviced residence. Chalet Hotels assets are currently branded with global partners such as JW Marriott, Westin, Marriott, Marriott Executive Apartments, Renaissance and Four Points by Sheraton which are part of the Marriott Group.

Segmental Performance Q1 FY20:

- Segmental revenue for hospitality grew by 1% to Rs. 2,198 Mn for the quarter, with the segmental profit margin before interest depreciation and tax at Rs. 854 with margins at 38.8%

- Occupancy for the quarter stood at 75%

- RevPAR for the quarter stood at Rs. 6,070 higher by 2% from the previous year same quarter

- Revenue for Retail & Commercial Segment was at Rs. 152 Mn compared to Rs. 65 Mn in the previous year same quarter with the segmental profit margin before interest depreciation and tax at 48.8%

Sharing his views on the first quarter's performance, Mr. Sanjay Sethi, MD & CEO, Chalet Hotels Limited, said, "Growth theme remained buoyant for the Company indicated by continuous RevPAR growth and tight control over costs. This, along with a keen focus on capital structure, has helped report a healthy improvement in profitability.

Withstanding uncertain market conditions that have impacted industries largely, Airlines, Banking and Financial Services and Automobiles along with weakness in consumer sentiments impacted our Food & Beverage segment. Despite of these conditions the company has managed to hold its occupancy at 75%. We are committed in our efforts to continue to stay on the growth trajectory."

Development pipeline:

- Chalet Hotels Limited has a developmental pipeline of ~580 keys across 3 hotel projects in markets of Mumbai Metropolitan Region and Hyderabad

- In line with our strategy to optimally utilize available land the Company has embarked on 2 commercial projects with an area of ~1.1 mn sqft in Mumbai and Bengaluru adjoining its existing hotels

Shares of Chalet Hotels Ltd was last trading in BSE at Rs.330.2 as compared to the previous close of Rs. 316.75. The total number of shares traded during the day was 667 in over 49 trades.

The stock hit an intraday high of Rs. 335 and intraday low of 320. The net turnover during the day was Rs. 219458.


Source: Equity Bulls

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