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The Byke Hospitality Ltd: Continues Strong Performance, Focusing on a Stronger Brand - Views on News from Equitymaster
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  • Jun 12, 2017 - The Byke Hospitality Ltd: Continues Strong Performance, Focusing on a Stronger Brand

The Byke Hospitality Ltd: Continues Strong Performance, Focusing on a Stronger Brand
Jun 12, 2017

The Byke Hospitality Limited has announced its financial results for the third quarter of the financial year 2016-17 (4QFY17). During the quarter, revenues grew by 11.4% YoY and net profits grew by 31.7%.

Performance summary
  • For 4QFY17, revenues were up by 11.4% YoY. A slight slowdown in the hotel business (up 8% YoY) was offset by the growth in the room chartering business (up 16% YoY). The hotel business was partially impacted by the exit of three properties during the quarter.
  • Within the hotel business the Food and Beverages (F&B) business grew at a faster rate of 10% YoY and the room business grew by 5% YoY. The contribution of F&B in the hotel business continued to increase and stood at 51% against 49% last year.
  • The operating profit grew at 17.2% YoY with the operating margin expanding from 22.9% in 4QFY16 to 24.1% in 4QFY17. The increase in the operating margin was largely due to the increasing share of the F&B business and lower lease costs due to the company exiting three properties in last quarter.
  • Net Profit for the quarter grew at 31.7% YoY with the net profit margin expanding to 12%.
  • For FY17 topline grew by 16.6% YoY and the net profit grew by 22.2%. The company has declared a dividend of Rs 1 per share.

    Financial performance: The Byke Hospitality
    (Rs m) 4QFY16 4QFY17 Change FY16 FY17 Change
    Net sales 680 758 11.4% 2315 2700 16.6%
    Expenditure 524 575 9.7% 1,789 2,078 16.1%
    Operating profit (EBDITA) 156 182 17.2% 526 622 18.2%
    EBDITA margin (%) 22.9% 24.1%   22.7% 23.0%  
    Other income 0.3 0.4 38.0% 1.4 1.4 4.5%
    Depreciation 46 44 -3.9% 116 128 10.1%
    Interest 4 2 -35.4% 15 11 -27.0%
    Profit before tax 106 136 28.3% 397 485 22.2%
    Tax 39 47 22.2% 137 168 22.2%
    Profit after tax / (loss) 68 89 31.7% 259 317 22.2%
    Net profit margin (%) 10% 12%   11% 12%  
    No. of shares (m)         40  
    Diluted earnings per share (Rs)         7.9  
    Price to earnings ratio (x)*         24.0  

    (Trailing twelve-month earnings)

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