Oriental Hotels Turns Profitable In September Quarter

Oriental Hotels Ltd on Monday reported a consolidated net profit of Rs 11.05 crore for the second quarter ended September 30.
    
The company, a part of the Taj group of hotels, had posted a consolidated net loss of Rs 4.63 crore in the same quarter last fiscal, Oriental Hotels said in a regulatory filing.
    
Consolidated revenue from operations in the second quarter stood at Rs 88.8 crore against Rs 52.34 crore a year ago, it added.
    
Total expenses were higher at Rs 75.74 crore compared to Rs 60.02 crore in the year-ago quarter, the company said.
    
While in the corresponding period of the previous fiscal business was affected by the COVId-19 pandemic, Oriental Hotels said, "During the current period, the group saw a strong rebound in the business aided by leisure travel and a gradual pickup in business travel".
    
However, the company will continue to closely monitor any material changes to future economic conditions on account of COVID-19 to assess any possible impact on it, the filing added.