Lemon Tree Hotels up 4% on strong revenue growth, margin expansion

Consolidated net profit came in at Rs 59 crore during the March quarter as compared to a net loss of Rs 39.16 crore posted in the year ago period. Revenue jumped 111 percent YoY to Rs 252.7 crore.

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Shares of Lemon Tree Hotels gained 4 percent on May 31 after the hospitality company reported a strong growth in revenue during the March quarter along with sharp expansion in margin.

At 09:57 am, the hotel company’s stock was quoting at Rs 98.66, up 3.23 percent. The stock was trading with volumes of 822,868 shares so far today, as compared to its five-day average of 503,288 shares, which implies an increase of 63.5 percent.

The financials

Consolidated net profit came in at Rs 59 crore during the March quarter as compared to a net loss of Rs 39.16 crore posted in the year ago period. Revenue jumped 111 percent YoY to Rs 252.7 crore.

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EBITDA margin expanded to 56.2 percent from 24.4 percent a year ago.

Corporate travel continues to be a strong source of demand, representing the largest share of room nights sold at 38 percent. The company intends to allocate 2-2.5 percent of its revenues towards renovating its current hotel portfolio, particularly the key hotels portfolio. According to ICICI Securities, these renovations will result in higher average room rates in the future and enhance the company’s ability to capture the anticipated demand.

Additionally, expanding the management and franchised portfolio will enable the company to generate more income through fees. This strategic shift will also allow the company to reduce its asset ownership and gradually improve its return ratios, the brokerage firm added.