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Oriental Hotels reports consolidated net loss of Rs 31.29 crore in June 2020 quarter

Oriental Hotels Limited reported a loss of Rs 31.29 crore in the quarter ended June 2020 as against net loss of Rs 7.55 crore during the previous quarter ended June 2019, says a release from the company. Due to lockdown over corona pandemic, the Sales has declined 93.54% to Rs 4.30 crore in the quarter ended June 2020 as against Rs 66.55 crore during the previous quarter ended June 2019, the release added.

by NavJeevan
5 years ago
in Business, Financial Results, Food and Beverages, Hospitality, Tourism and Travel
Reading Time: 1 min read
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Oriental Hotels reports consolidated net loss of Rs 31.29 crore in June 2020 quarter
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NE BUSINESS BUREAU
CHENNAI, JULY 29

Oriental Hotels Limited reported a loss of Rs 31.29 crore in the quarter ended June 2020 as against net loss of Rs 7.55 crore during the previous quarter ended June 2019, says a release from the company.

Due to lockdown over corona pandemic, the Sales has declined 93.54% to Rs 4.30 crore in the quarter ended June 2020 as against Rs 66.55 crore during the previous quarter ended June 2019, the release added.

Taj Coromandel of the OHL offered rooms to the US Consulate and Australian Consulate for evacuation of Americans and Australians post COVID-19.

In line with the ethos and culture of IHCL, Vivanta Coimbatore has served approximately 1500 meals to the doctors of the ESI hospital who were treating Covid-19 patients from April 20, 2020 to May 31, 2020. This was an IHCL initiative which Vivanta Coimbatore aligned with under aegis of Taj Public Service Welfare Trust, the release added.

OHL’s hotels have effectively implemented heightened hygiene and safety procedures for all guests, employees, partners and vendors. Some of these measures include thermal screening of all employees and guests, intensive hospital level sanitisation of its hotels as well as new contactless processes and social distancing measures.

Commenting on this, Pramod Ranjan, Managing Director & CEO, Oriental Hotels Ltd., said, “The business has been severely impacted during the current quarter on account of COVID-19 and the consequent lockdown. However, during the quarter, the Company launched ‘Hospitality @ Home’, a food and beverage initiative which resulted in some revenues,” he added.

Tags: consolidated net loss of Rs 31.29 crorein June 2020 quarterOriental Hotels reports
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