Mumbai, July 15 (IANS) Hospitality firm Oriental Hotels Limited (OHL) on Wednesday reported a 20 per cent decline in its consolidated net profit for the first quarter of FY27.
The hospitality company’s net profit stood at Rs 5.3 crore in the April-June quarter, compared with Rs 6.6 crore in the corresponding period of the previous financial year (Q1 FY26), according to its stock exchange filing.
Revenue from operations rose 3 per cent year-on-year to Rs 111 crore during the quarter, up from Rs 108 crore in the same period last fiscal.
Investors reacted negatively to the results, with Oriental Hotels’ shares falling nearly 6 per cent after the earnings announcement.
The stock slipped to as low as Rs 125 during the trading session before recovering some of the losses.
It was trading around Rs 126.10, down close to 6 per cent, after the results were announced. Earlier in the day, the stock had touched an intra-day high of Rs 136.40.
However, at the closing bell, the shares were at Rs 130.60, down by Rs 2.85 or 2.14 per cent on the Bombay Stock Exchange (BSE).
The stock remains below its 52-week high of Rs 169, while its 52-week low stands at Rs 80.50. Oriental Hotels currently has a market capitalisation of around Rs 2,311 crore.
Commenting on the results, Pramod Ranjan, Managing Director & CEO, Oriental Hotels Limited, said that OHL in the first quarter of FY2027 reported a steady performance with a EBITDA of Rs 26.6 crores.
“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,” he added.
Oriental Hotels Limited (OHL) is an associate company of The Indian Hotels Company Limited (IHCL).
The company has seven hotels — Taj Coromandel, Chennai Taj Fisherman’s Cove Resort & Spa, Chennai, Taj Malabar Resort & Spa, Cochin, Vivanta Coimbatore, Vivanta Mangalore; Gateway Madurai and Gateway Coonoor.
–IANS
pk
