Advani Hotels & Resorts India Ltd reports Q4, FY2020 earnings

Advani Hotels and Resorts (India) Ltd., which owns and operates the 201-key, 5-Star Deluxe Caravela Beach Resort Goa, on a 23-acre estate, situated on Varca Beach, South Goa, has approved their audited financial results at their Board Meeting held on June 30, 2020.

Until February 29, 2020, the Company had achieved Total Net Revenue of INR 6678 Lakhs, and a Profit Before Tax of INR 1416 Lakhs, as compared to a Total Net Revenue of INR 6391 Lakhs and Profit Before Tax of 1083 Lakhs, during the corresponding 11-month period of the preceding financial year. Thus, the Company was on a growth trajectory until February 29, 2020.

During the month of March 2020, the Caravela Beach Resort Goa abruptly received a number of cancellations due to the COVID-19 pandemic. International flights were not allowed to land and this led to cancellations from foreign customers. Subsequently, in order to control the spread of the Coronavirus, a National Lock-Down came into effect and domestic travel also came to a stand-still. Thus, the Total Net Revenue for the month of March 2020 was only INR 437 Lakhs, as against INR 767 Lakhs recorded in March 2019.

Due to the above, for the quarter ended March 31, 2020, the Company reported a Total Net Revenue of INR 2070 Lakhs, as compared to a Total Net Revenue of INR 2366 Lakhs, during the corresponding quarter of the preceding financial year.

Despite the adverse impact of the COVID-19 pandemic during the month of March 2020, the Company achieved a Total Net Revenue of INR 7116 Lakhs, and a Profit Before Tax of 1405 Lakhs in the financial year 2019 - 2020, as compared to a Total Net Revenue of INR 7173 Lakhs and Profit Before Tax of 1392 Lakhs, in the financial year 2018 - 2019.

Some highlights for the financial year 2019 - 2020 are below:

- Annual Average Occupancy is 80.0%
- Annual Average Net Revenue Per Sold Room (RevPOR) is INR 12,090
- EBITDA is INR 1802 Lakhs
- Earnings Per Share is INR 2.44

The Company is virtually debt-free and as on March 31, 2020 has sufficient financial reserves with which to protect itself during the current COVI D-19 pandemic.

Shares of ADVANI HOTELS & RESORTS (INDIA) LTD. was last trading in BSE at Rs.45.8 as compared to the previous close of Rs. 44. The total number of shares traded during the day was 1694 in over 66 trades.

The stock hit an intraday high of Rs. 45.9 and intraday low of 44. The net turnover during the day was Rs. 76376.

Source : Equity Bulls

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