Lemon Tree Hotels reported -65.18% fall in total revenues for the Dec-20 quarter on consolidated basis at Rs70.61cr. Like most hotels, Lemon Tree also suffered from low levels of occupancy during the pandemic. With business and leisure travel yet to pick up in a significant manner, the profits continue to be under pressure as also the top line revenues. Lemon Tree operates budget hotels and that segment has seen a major impact during the quarter.
The company dipped into a net loss of Rs-31.25cr for the Dec-20 quarter after posting a loss in the sequential quarter also. The revenues are yet to pick up significantly to cover their fixed costs effectively. Despite cutting down heavily on operating costs, the finance charges continue to remain constant and that has put pressure on the bottom line numbers. As a result, the PAT margins dipped into negative from 6.02% in the Dec-19 quarter.
Financial highlights for Dec-20 compared yoy and sequentially
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Lemon Tree Hotels |
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Rs in Crore |
Dec-20 |
Dec-19 |
YOY |
Sep-20 |
QOQ |
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Total Income (Rs cr) |
₹ 70.61 |
₹ 202.80 |
-65.18% |
₹ 53.61 |
31.71% |
|
Net Profit (Rs cr) |
₹ -31.25 |
₹ 12.20 |
N.A. |
₹ -37.13 |
N.A. |
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Diluted EPS (Rs) |
₹ -0.40 |
₹ 0.15 |
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₹ -0.47 |
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Net Margins |
-44.26% |
6.02% |
|
-69.26% |
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