Bharat Hotels Ltd. has released its results for FY24

Author

Financial Analyst Intern

Publish Date28 August 2024

Reading time2 Min

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Revenue and Profitability- The company's revenue grew by 8%, rising from Rs. 800 cr in FY23 to Rs. 862 cr in FY24, driven by higher revenue generated from room rentals and food and beverages. This led to a significant 71% increase in profits, from Rs. 50 cr in FY23 to Rs. 85 cr in FY24, which in turn boosted the EPS from Rs. 7 in FY23 to Rs. 11 in FY24.
Financial Position- The company's total asset base declined by 6%, from Rs. 2,474 cr in FY23 to Rs. 2,337 cr in FY24, mainly due to a 2% decrease in property, plant, and equipment. On the other hand, total equity grew from Rs. 775 cr in FY23 to Rs. 861 cr in FY24, driven by an increase in retained earnings resulting from higher profits.
Future Prospects- The company's management is confident that the hospitality industry will continue to grow in the coming years. The growth in domestic tourism, driven by improved infrastructure and rising disposable income among the middle class, is expected to further boost the hotel sector in the country.