India's Oriental Hotels falls on decline in March-qtr profit

Oriental Hotels

19/04/2024 05:22

** Shares of Oriental Hotels  ORHT.NS  down 4.6% at 128
rupees
    ** ORHT reports 8.4% YoY decline in March-qtr profit,
revenue from operations fall 3.5%
    ** Stock on track to fall for second straight week; it is
down 3.4% this week so far
    ** Volumes at 0.4x the 30-day avg in early trading
    ** Stock up ~7% YTD vs 67% climb in 2023
        ** Rivals Lemon Tree Hotels  LEMO.NS , Chalet Hotels
 CHAL.NS  up 11.6% and 20.6% YTD, respectively
  

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))