Chennai, October 24, 2019: Oriental Hotels Limited reported its financials for the second quarter ending September 30, 2019.
STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDING SEPTEMBER 30, 2019
Mr. Pramod Ranjan, Managing Director & CEO, Oriental Hotels Ltd said, “In line with Aspiration 2022, the company achieved 300 bps (3%) growth in EBITDA margin and 11% growth in EBITDA. Strategic exits from assets ownership in secondary markets resulted in lower debt.“
- The shortfall in revenues and PAT is on account of the sale of its hotel in Vishakhapatnam in 2018-19 and exit from Trivandrum hotel effective 1st April 2019.
- Taj Fisherman’s Cove Resort & Spa hosted the informal summit between the Indian Prime Minister Mr. Narendra Modi and Chinese President, Mr. Xi Jinping