Apeejay Surrendra Park Hotels Limited Q3 2024 Results : The Board of Directors of Apeejay Surrendra Park Hotels Limited approved and acknowledged the Unaudited (Standalone and Consolidated) Financial Results of the Company for the quarter and nine-month period ending on December 31, 2023.
APEEJAY SURRENDRA PARK HOTELS LIMITED STATEMENT OF UNAUDITED CONSOLIDATED RESULTS FOR THE QUARTER ENDED 31 DECEMBER 2023
| All Numbers are in Rs Crores Except EPS | Quarter Ended 31.12.2023 | Quarter Ended 30.09.2023 | Quarter Ended 31.12.2022 |
|---|---|---|---|
| Total Income | 163.61 | 141.49 | 142.64 |
| Total Expenses | 102.99 | 90.60 | 89.74 |
| Profit/ (loss) before tax | 28.69 | 21.43 | 24.75 |
| Net Profit after tax | 27.42 | 14.82 | 18.77 |
| EPS | 1.57 | 0.85 | 1.07 |
Commenting on the performance for Q3 and 9M FY24, Ms. Priya Paul, Chairperson, expressed her satisfaction, stating: “We are thrilled to present our inaugural earnings announcement following our remarkable listing. We extend a warm welcome to all our public shareholders and reiterate our dedication to the sustained growth and advancement of our business, aiming to generate value for all stakeholders. The Company concluded the quarter on a strong note, achieving its best-ever financial results for Q3. Our Revenue, EBITDA, and PAT performances were robust, and we are equally pleased with our operational achievements, including a notable 14% growth in RevPAR and an industry-leading 90% occupancy rate. This success stems from a combination of strategic initiatives and favorable industry trends.”
Ms. Paul highlighted the recent inauguration of five new hotels, emphasizing the Company’s commitment to continuous expansion and growth, which enhances its hospitality presence across key markets. She mentioned the prudent use of IPO proceeds to pre-pay long-term loans, strengthening the balance sheet and transitioning ASPHL into a net debt-free position, positioning the Company well for pursuing growth plans actively and reinforcing its operating position in the sector.
Reflecting on the Company’s five-decade journey, Ms. Paul emphasized its exceptional brands, reputation for innovative hospitality services, and diverse F&B offerings, which have set it apart in the industry. She noted that these strengths, combined with encouraging macroeconomic trends and the demand-supply scenario in the hospitality sector, position the Company favorably for future growth. Ms. Paul concluded by stating the Company’s progression with confidence, strength, and a renewed commitment to leverage its strengths for further growth.