Lemon Tree Hotels Fourth Quarter Results | Profit jumps 52% to ₹67 crore, revenue up 30% to ₹327 crore

Hotel chain Lemon Tree Hotels Ltd on Wednesday (May 29) reported a 52.1% year-on-year (y-o-y) rise in its net profit at ₹67 crore for the fourth quarter ended March 31, 2024.

During the corresponding quarter, Lemon Tree Hotels reported a net profit of ₹44 crore, the company said in a regulatory filing. The company’s operating revenue increased 29.5 per cent to ₹327.3 crore from ₹252.7 crore in the corresponding period of the previous fiscal.

At the operational level, EBITDA increased by 24% to ₹260.3 crore in the fourth quarter of this fiscal, compared to ₹210.1 crore in the corresponding period of the previous fiscal.

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EBITDA margin stood at 79.5% during the reported quarter compared to 83.1% in the corresponding period of the previous financial year. EBITDA is earnings before interest, taxes, depreciation and amortization.

The gross average room rate (ARR) stood at ₹6,605 in Q4FY24, an increase of 4.3% from ₹6,333 in Q3FY24 and an increase by 13.4% from ₹5,824 in Q4FY23. Occupancy percentage was 72.0% in Q4 FY24, up 605 basis points from 65.9% in Q3 FY24 and down 163 basis points compared to 73.6% in Q4 FY23.

Total expenses stood at ₹155.8 crore in Q4FY24, up 4.6% from ₹149.0 crore in Q3FY24 and up 38% from ₹149.0 crore in Q3FY24. 2% from ₹112.8 crore in Q4FY23, the company added.

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The results came after the close of market hours. Shares of Lemon Tree Hotels Ltd ended at ₹138.55, down ₹1.55 or 1.11 per cent on the BSE.