Leela Hotels jumps after quarterly profit and revenue gains
The hotel group reported higher second-quarter profit, revenue and operating earnings as its shares reached a record high in early trading.
Key takeaways
- Leela shares reached ₹649.80, a new high, in Thursday’s opening deals.
- Second-quarter profit rose 27% to ₹94.6 crore, while operating revenue increased 33%.
Leela Palaces Hotels & Resorts shares hit a record ₹649.80 in Thursday’s opening deals, rising 10% after the company reported higher second-quarter earnings. By 9:30 a.m., the shares were up 6% at ₹624.
For the quarter ended September, profit after tax increased 27% year on year to ₹94.6 crore. Operating revenue rose 33% to ₹411.9 crore, while operating EBITDA climbed 36% to ₹187.7 crore.
Revenue per available room grew 30% to ₹17,225, and average daily rates also rose 30%, to ₹25,046. Occupancy across India was 69%, according to the company’s results.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
