India's Oriental Hotels hits over 2-yr high after narrowing loss

Oriental Hotels

20/10/2021 07:11

** Shares of hoteliering firm  ORHT.NS  jump as much as 9.9%
to 43.80 rupees - touches highest levels in more than 2 years
    ** Oriental Hotels narrowed its September-quarter
consolidated loss after tax to 75 million rupees ($998,588.66)
from 233.3 million rupees a year ago  urn:newsml:reuters.com:*:nBSE30YnLy
    ** Co's consolidated revenue from operations more than
tripled to 523.4 mln rupees for the quarter
    ** "With easing of lockdown restrictions, post the second
wave of COVID -19, the company witnessed significant recovery in
the current quarter" - Pramod Ranjan, Managing Director & CEO
    ** ORHT which has 7 luxury hotels in southern India, expects
the recovery in its business to be driven by domestic leisure
and business tourism
    ** Including session's gains, stock is up ~67% for the year


($1 = 75.1060 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))