Brigade Hotel Ventures (BRIGHOTEL) Q4 23/24 earnings summary

Executive summary

• Consolidated revenue rose to ₹40,485 lakhs in FY24, up 13.6% from ₹35,641 lakhs in FY23, driven by higher occupancy and average room rates across 8 hotels with 1,474 keys and 71% average occupancy.

• Consolidated profit after tax reached ₹3,114 lakhs, reversing a loss of ₹309 lakhs in FY23; total comprehensive income was ₹3,121 lakhs versus a loss of ₹294 lakhs last year.

• Standalone revenue was ₹34,609 lakhs (up 13.6% YoY), with standalone profit after tax at ₹1,860 lakhs, compared to a loss of ₹460 lakhs in FY23.

Financial highlights

• Consolidated total expenses were ₹37,277 lakhs, nearly flat YoY; standalone expenses were ₹32,027 lakhs, slightly down from ₹32,227 lakhs.

• Gross operating profit for FY24 was ₹15,604 lakhs.

• Basic and diluted EPS (consolidated) improved to ₹0.88 from a loss of ₹0.14 per share.

• Net profit margin (consolidated) improved to 5% from -1.3% YoY.

Outlook and guidance

• Management expects continued growth in the near future, supported by positive hospitality sector trends.