Sinclairs Hotels Q3 PAT up 359% to Rs 576.43 lakh

Mumbai, Feb 10 For the quarter ended 31st December 2021, Sinclairs Hotels' Total Income increased by 106 per cent to Rs.1,548.81 lakh (Rs.750.46 lakh). The EBIDTA for the quarter increased by 170% to Rs.891.38 lakh (Rs.330.54 lakh) while Profit After Tax also increased by 359% to Rs.576.43 lakh as against a profit of Rs.125.51 lakh in the corresponding quarter of the previous year.

Total Income for the nine months ended 31st December 2021 stood at Rs.2,447.96 lakh (Rs.1,258.82 lakh) and EBIDTA rose to Rs.1,127.72 lakh (Rs.581.30 lakh). The Profit Before Tax for the nine-month period stood at Rs.697.31 lakh as compared to Rs.136.73 lakh in the previous year, and Profit After Tax for the period was Rs.504.30 lakh (Rs.140.42 lakh).

The revenues were lower in the initial months of the current fiscal as the second wave of COVID-19 resulted in restrictions and lockdowns across the country. However, demand began showing a positive trend beginning September 2021 and there was a sharp recovery in demand in the third quarter of the year, particularly in the leisure destinations.

During the third quarter, the Company acquired on lease a boutique property at Yangang, Sikkim. This property in South Sikkim is the ninth property in the Sinclairs chain and its second property in Sikkim. The USP of this property spread over one acre of land is its magnificent location that offers stunning views of the Maenam Hills popularly known as Bhalay-Dhunga, which is a part of the Kanchenjunga range. This brand-new property is likely to commence operations in early April this year.