Monday, Jun 17 2024 | Time 09:47 Hrs(IST)
Business Economy

SAMHI Hotels turns around with net profit of Rs 11.3 cr in Q4

Gurugram, May 30 (UNI) SAMHI Hotels Limited on Thursday reported net profit of Rs 11.3 crore during Q4 (January-March) period of financial year 2023-24 against of loss of Rs 73.7 crore.
For the full year 2023-24, its net loss has come down to Rs 234.6 crore against net loss of Rs 358.6 crore in the year 2022-23, the company said in a regulatory filing with the stock exchanges.
Commenting on the performance, Mr. Ashish Jakhanwala, Chairman and Managing Director, SAMHI Hotels Ltd., said, “we achieved a total revenue of Rs 289.9 crore (Rs. 2,899 million) and an EBITDA of Rs. 107.7 crore (Rs 1,077 million) during the quarter and have turned Profit After Tax (PAT) positive.”
This was supported by the strong operational performance of our hotels, which continue to benefit from the significant growth of India’s commercial office and aviation markets.
Its achieved total revenue of Rs 289.9 crore in Q4 of 2023-24 as againsr Rs 211.6 crore in same quarter of 2022-23. While full year revenues stood at Rs 978.7 crore in 2023-24 Vs Rs 761.4 crore in 2022-23, the company said.
A reduction in debt and finance costs allows SAMHI to be well-positioned to generate significant free cash flow from operations in FY25, providing resources to fuel both internal and external growth opportunities.
SAMHI is a prominent branded hotel ownership and asset management platform in India with an institutional ownership model, experienced leadership, and a professional management team.
SAMHI has long-term management arrangements with three of the most established and well-recognised global hotel operators, namely Marriott, IHG, and Hyatt. SAMHI has a portfolio of 31 operating hotels comprising 4,801 keys and has a diverse geographic presence in 13 cities across India, including the National Capital Region (NCR), Bengaluru, Hyderabad, Chennai, and Pune.
SAMHI has 2 hotels under development with a total of 461 keys in Kolkata and Navi Mumbai.
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