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As On 08-Jul-2020 EOD, Market Closed
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  • Lemon Tree Hotels Q3 profit drops 2% to Rs 12.20 cr

    The hotel chain's consolidated net profit dropped 2.2% to Rs 12.20 crore in Q3 December 2019 (Q3 FY20) as against Rs 12.47 crore reported in Q3 December 2018 (Q3 FY19).

    Net sales surged 39.3% year-on-year (YoY) to Rs 199.62 crore in Q3 FY20. Profit before tax slipped 9.9% to Rs 15.64 crore YoY. Current tax expenses slumped 64.4% to Rs 1.50 crore during the period under review. The result was announced after market hours yesterday, 13 February 2020.

    EBITDA climbed 65.7% to Rs 81 crore during Q3 FY20 as against Q3 FY19. EBITDA margin stood at 40.7% in Q3 FY20 as compared to 34.2% in Q3 FY19.

    The average daily rate rose 4% to Rs 4,644 in Q3 FY20 as against Rs 4,465 in Q3 FY19. The occupancy rate fell to 71.3% in Q3 FY20 from 72.8% in Q3 FY19. The revenue per available room (RevPAR) rose 1.9% to Rs 3,311 in Q3 FY20 as compared to Rs 3,249 in Q3 FY19.

    Commenting on the Q3 FY20 performance, Patanjali Keswani, the chairman & managing director of Lemon Tree Hotels, has said that, "I am pleased to share that we have delivered strong performance during the quarter despite subdued market sentiments and external challenges in certain micro markets. In Q3 FY20, our revenue from operations grew by 39.3% YoY primarily driven by the addition of 978 rooms over the last one year and acquisition of Keys Hotels."

    "On the operational front, our team is doing a remarkable task of seamlessly consolidating operations. As there are significant opportunities to derive multiple synergies from this acquisition, we are confident of delivering strong operational and financial performance from Keys Hotels in the upcoming quarters."

    "During the year, we have operationalized 3 large owned Hotels at Mumbai, Udaipur and Kolkata. Going forward, even as we anticipate the industry cycle to positively turn in the near-term, we continue to build on our cost leadership and strengthen our leading position in the mid-priced hotel segment in India. We believe, we are well-poised to capitalize on the upcoming opportunities led by the stabilization of a large inventory commissioned in the down-cycle, successful integration of Keys Hotels, and aggressive ramp-up of our asset-light model through managed hotels," he added.

    Lemon Tree Hotels operates a chain of upscale business and leisure hotels. The company is engaged in acquiring land, building, leasing, owning, managing and marketing hotels.

    Shares of Lemon Tree Hotels rose 2.38% to Rs 56 on BSE. It traded in the range of Rs 54.50 to Rs 57.50 in the intraday.

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Flash News 08-Jul-2020
  •  ( 16:15) Market breaks 5-day winning streak; IT shares drag  
  •  ( 15:03) NCC bags five orders worth Rs 1,396 cr in June 2020 from State Govts.  
  •  ( 14:35) Kolkata-based Jwalamukhi Investment Holdings sold 2.206% stake in CEAT  
  •  ( 13:10) NBCC (India) June 2020 total business secured stands at Rs 431.63 cr  
  •  ( 12:33) BEML closes its loss-making subsidiary, M/s Vignyan Industries, Tarikere  
  •  ( 12:06) Ramco Systems hits the roof after fresh order win  
  •  ( 11:47) Steel Strips Wheels on the roll after fresh export orders  
  •  ( 11:32) Most Asian markets advance  
  •  ( 11:31) Market breadth in favour of buyers  
  •  ( 11:30) Sensex, Nifty trade flat  
  •  ( 11:17) Lupin voluntarily recalls type 2 diabetes drug in US  
  •  ( 11:15) NCL Inds Q1 cement production drops 16% to 4,65,178 metric tonne  
  •  ( 11:09) Maruti Suzuki's total production drops 55% to 50,742 units in June 2020  
  •  ( 10:58) Groupe ADP completes 2nd investment tranche in GMR Infra.'s airport business  
  •  ( 10:31) PSU Banks in demand  
  •  ( 10:30) Sensex, Nifty at the low point of the day  
  •  ( 09:57) Bharti Airtel forms strategic alliance with ZEE5 to unviel new schemes for users  
  •  ( 09:26) Facebook gets allotted 9.99% stake Reliance Industries-owned Jio Platforms  
  •  ( 09:25) Strong market breadth  
  •  ( 09:19) Stocks nudge higher in early trade  
  •  ( 08:04) Wall Street drops as COVID-19 cases mount  
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08 July 2020 00:00
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