Bharat Hotel Ltd net declines by 8.7% - Views on News from Equitymaster

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Bharat Hotel Ltd net declines by 8.7%

May 3, 2000

Bharat Hotels net sales saw a marginal decline of 0.9% in FY2000, due to pressure on occupancy rates and average room rates in its flagship hotel, Hotel Intercontinental, New Delhi. However the operating profit grew by 51.5% in FY2000 over FY99, mainly on account of a decline in operating expenses. The fall in repair and maintenance expenses contributed to the fall in operating expenses. The operating margins improved from 7.1% in FY1999 to 10.8% in FY2000 , due to fall in expenditure

However due to higher interest and depreciation costs and lower other income the profit after tax fell by 8.7% YoY. Like other metro hotels reeling under the pressure of low occupancy and average room rates, the performance of the company continues to be disappointing.

(Rs m) FY99 FY00 Change
Sales -0.9%
Other Income -17.9%
Expenditure -4.9%
Operating Profit (EBDIT) 51.5%
Operating Profit Margin (%) 7.1% 10.8%  
Interest 890.1%
Depreciation 13.9%
Profit before Tax -14.1%
Other Adjustments  
Tax -39.2%
Profit after Tax/(Loss) -8.7%
Net profit margin (%) 24.4% 22.5%  
Earnings per share* 6.87 6.27  
(annualised)      

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