Chalet Hotels Limited announces Q3FY21 results

Chalet Hotels Limited, owner, developer and asset manager of high-end hotels in key metro cities of India, announces its results for the third quarter and nine months ending December 31, 2020.

- Total Income for Q3FY21 grew by 43% to Rs. 916 mn sequentially as compared to Q2FY21.

- EBITDA for Q3FY21 was at Rs 169 mn as against Rs 30 mn in Q2FY21.

For the Hospitality segment:

- Sequential Revenue Growth for Q3FY21 was 74%
- Occupancy for Q3FY21 was at 33% as against 25% for Q2FY21 an expansion of 800 bps. ADR was stable at Rs. 4,023 resulting in a RevPAR growth of 31% to Rs. 1,318 in Q3FY21.

- EBITDA for the quarter was at Rs. 20 mn as against a loss of Rs. 107 mn in Q2FY21.

- Retail & Commercial segment: revenues were at Rs. 226 Mn with EBITDA at Rs. 168 Mn.

Speaking on the results, Mr. Sanjay Sethi, MD & CEO, Chalet Hotels Limited, said, "I am happy to share that we have been EBITDA positive through the pandemic. Backed by our persistent cost efficiencies, coupled with a focus on fortifying revenue streams, we have achieved INR 169 mn EBITDA for the quarter.

Government interventions towards gradual lifting of restrictions, Union Budget stimulus, reducing cases of Covid-19 and widespread distribution of vaccines both in India and globally, have provided the necessary impetus required for economic revival and boost for the travel & hospitality industry."

Shares of Chalet Hotels Ltd was last trading in BSE at Rs.174.9 as compared to the previous close of Rs. 178.5. The total number of shares traded during the day was 43060 in over 1145 trades.

The stock hit an intraday high of Rs. 179.8 and intraday low of 172.15. The net turnover during the day was Rs. 7600247.

Source : Equity Bulls

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