Oriental Hotels Q2 net loss narrows to Rs 4.83 crore

Oriental Hotels Ltd, an associate company of The Indian Hotels Company Ltd, on Tuesday reported a consolidated net loss of Rs 4.83 crore for the second quarter ended September 30, 2021.

The company had reported a net loss of Rs 17.88 crore in the July-September period of the previous financial year.

Its revenue from operations stood at Rs 52.34 crore for the period under review as compared to Rs 15.8 crore in the year-ago period, Oriental Hotels said in a regulatory filing.

The company's board at its meeting on Tuesday re-appointed Pramod Ranjan as managing director and CEO for a further term of three years with effect from November 11, 2021, based on the recommendation of the nomination and remuneration committee.

Oriental Hotels has seven hotels, including Taj Coromandel, Chennai; Taj Fisherman's Cove Resort and Spa, Chennai; and Taj Malabar Resort and Spa, Kochi.