Gujarat Hotels Reports 65% Surge in Q2 Net Profit, Revenue Grows 29%

Gujarat Hotels , a prominent player in the Indian hospitality sector, has announced its financial results for the quarter ended September 30, showcasing robust growth across key metrics.

Financial Highlights

The company reported a significant increase in its net profit for the quarter, with figures rising to ₹118.88 crore, marking a substantial 65% jump from ₹71.92 crore in the corresponding quarter of the previous year. This impressive growth in profitability underscores the company's effective cost management and operational efficiency.

Revenue from operations also saw a notable uptick, growing by 29% to ₹91.65 crore, compared to ₹70.81 crore in the same quarter last year. This increase in revenue indicates a strong recovery in the hospitality sector and improved occupancy rates for Gujarat Hotels.

Key Financial Metrics

Half-Yearly Performance

For the six months ended September 30, Gujarat Hotels reported:

• Total income of ₹350.59 crore, up from ₹299.85 crore in the corresponding period of the previous year.
• Net profit of ₹259.31 crore, compared to ₹197.21 crore in the same period last year, representing a growth of 31.5%.

Management Commentary

The company's management expressed satisfaction with the quarterly results, attributing the growth to strategic initiatives and a favorable market environment. They remain optimistic about maintaining this growth trajectory in the coming quarters.

Other Notable Points

• The company's balance sheet remains strong, with total assets standing at ₹5,339.89 crore as of September 30.
• Gujarat Hotels continues to operate in a single segment, hoteliering, within India.
• The Board of Directors approved these results in a meeting held on October 13.

Gujarat Hotels' impressive financial performance in Q2 reflects the company's resilience and ability to capitalize on the recovering hospitality sector. With strong growth in both revenue and profitability, the company appears well-positioned for sustained success in the coming quarters.

Investors and stakeholders will likely view these results positively, as they demonstrate the company's ability to generate value and navigate the dynamic hospitality landscape effectively.