Oriental Hotels Q2 PAT at Rs 11.62 cr; IHCL merger scheme under way
ORIENTHOT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.4 pts more than Nifty Microcap 250 and 3.4 pts more than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Oriental Hotels Q2 standalone revenue from operations rose about 6.5 percent YoY to Rs 116.80 cr, but standalone PAT fell 8.2 percent to Rs 11.62 cr, weighed down by a Rs 0.70 cr exceptional item for merger-related expenses. H1 standalone PAT still grew 7.5 percent to Rs 22.97 cr on Rs 227.61 cr revenue. On a consolidated basis, Q2 revenue was Rs 117.75 cr and profit after share of associates and JV came in at Rs 8.59 cr. H1 JV losses widened to Rs 7.09 cr. Operating cash flow remained healthy at about Rs 40.26 cr (standalone) and Rs 40.15 cr (consolidated). Borrowings declined YoY. The Board had approved a scheme to merge the company into IHCL (Taj Hotels), pending NCLT and regulatory approvals. Auditor PKF Sridhar and Santhanam LLP issued an unqualified limited review.
Short-term PAT dip from merger costs; pending IHCL amalgamation could unlock value for shareholders, but outcome hinges on NCLT and regulatory approvals.