Royal Orchid Hotels sees 191% rise this quarter
Royal Orchid Hotels limited earned total revenue of Rs 31.65 Cr for the quarter ended as against Rs 26.81Cr of the quarter ended 30th September 2009, an increase of 18%.
Tweet-- Royal Orchid Hotels limited earned total revenue of Rs 31.65 Cr for the quarter ended as against Rs 26.81Cr of the quarter ended 30th September 2009, an increase of 18%. The profit after tax (PAT) for the quarter ended 31st December 2009, is Rs 3.00 Cr as against Rs 1.03 Cr for the quarter ended 30th September 2009, an increase of 191%. The total revenue and PAT for the 3rd quarter of the previous year was Rs 36.44 Cr and Rs 5.21 Cr.
The consolidated un-audited financial statements include results of all the subsidiaries of Royal Orchid Hotels Limited.
The company has started the operation of its new fully owned hotel Royal Orchid Central, Ahmedabad in Dec 09. With new properties on the anvil for this calendar year, including the Royal Orchid Central Navi Mumbai, Royal Orchid Hyderabad and Royal Orchid Jaipur the Group confidently looks at a promising performance in the next financial year.
At the juncture of declaring the 3rd quarter result for the group Mr. Chender Baljee, Chairman & Managing Director, Royal Orchid Hotels Limited said "Despite the recession we had deployed our energies to line up funds for developing our new projects in Hyderabad and Jaipur, which will be ready during the next financial year. There has been considerable growth in this quarter as against the first two quarters of the current financial year. We are optimistic and are expecting an increase in the occupancy by next year and will try and maintain the ARR's. Business looks promising for the coming year, with companies looking at traveling as the recession seems to be over."
Notes to Editor
About Royal Orchid-
Royal Orchid Hotels is one of India's fastest growing hotel chains. It primarily operates 5 and 4 star hotels, enabling it to target the discerning business and leisure traveller. It currently operates 13 hotels across India in Bangalore, Mysore, Pune, Jaipur, Goa, Hyderabad and Ahmedabad. Royal Orchid Hotels will also open its first international resort in 2012 at Dar Es Salaam, Tanzania.
Started by Chender K Baljee, Royal Orchid Hotels has become one of India's most recognized names in hospitality. Recently it has bagged the award for the "Best Regional Hotel Chain" at the sixth edition of the annual Galileo Express TravelWorld Awards. Royal Orchid is listed in the Bombay & National Stock Exchanges (BSE & NSE) and is governed by an independent board of eminent directors.