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Advani Hotels & Resorts (India) Limited reports Q1 FY20 results

Posted On: 2019-08-13 20:02:35

Advani Hotels and Resorts (India) Ltd, which owns and operates the 201-key, 5-star deluxe hotel, known as the 'Caravela Beach Resort Goa' that is situated on a 23-acre estate in South Goa, has approved the unaudited financial results at their Board Meeting held on August 13, 2019.

In the quarter ended June 30, 2019, the Company reported a Total Net Revenue of INR 1657 Lakhs, as compared to INR 1525 Lakhs, which reflects an 8. 7% growth in sales over the same period last year.

The Gross Operating Profit for this quarter grew to Rs. 309 Lakhs from Rs 228 Lakhs, reflecting a growth of 35.5%.

This was achieved by recording 84.7% average occupancy in the month of April, 84.7% occupancy in May and 90.9% occupancy in the month of June 2019.

The Average Net Revenue Per Occupied Room Per Night grew by 8.1% in April to Rs. 11 ,124 per room per night, grew by 12.1% in May toRs. 10,923 per room per night, and grew by 3.7% in June toRs. 9,594 per room per night.

The Profit Before Tax for the three months ended June 30, 2019 also grew to INR 216 Lakhs, as compared to INR 134 Lakhs, which reflects a 61.2% increase over the same period last year.

The Caravela Beach Resort Goa has also won several guest satisfaction awards in this quarter including:

- The Trip Advisor 'Certificate of Excellence' Award in May 2019, for the consistent achievement of high ratings from travelers, with over 3600 total guest reviews, yielding an average of 4.5 stars out of a maximum of 5.0 stars.

- An award certificate from the CEO of 'HolidayCheck AG' Germany in April 2019, with an average guest satisfaction score of 5.6 stars (out of a maximum of 6.0 stars).

- The Resort recently won the 'Best Employer Brand Award 2019' in Goa State, and also won the 'Best Recreational Resort' in the 5-Star hotel category by Holiday Biz.

Shares of ADVANI HOTELS & RESORTS (INDIA) LTD. was last trading in BSE at Rs.53.95 as compared to the previous close of Rs. 55.25. The total number of shares traded during the day was 207 in over 43 trades.

The stock hit an intraday high of Rs. 55.9 and intraday low of 53.9. The net turnover during the day was Rs. 11335.

Source: Equity Bulls

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