NEWS | Chalet Hotels reports consolidated net loss of INR 25.96 crore in 2021 Q1

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Sales declined 57.12 percent to INR 97.83 crore in the quarter ended March 2021 as against INR 228.16 crore during the previous quarter ended March 2020.

Net loss of Chalet Hotels reported to INR 25.96 crore in the quarter ended March 2021 as against net profit of INR 42.78 crore during the previous quarter ended March 2020. Sales declined 57.12 percent to INR 97.83 crore in the quarter ended March 2021 as against INR 228.16 crore during the previous quarter ended March 2020.

For the full year,net loss reported to INR 139.08 crore in the year ended March 2021 as against net profit of INR 102.68 crore during the previous year ended March 2020. Sales declined 69.99 percent to INR 294.39 crore in the year ended March 2021 as against INR 980.85 crore during the previous year ended March 2020.

The hotels and leisure industry has been one of the worst hit by the pandemic, the restrictions on operations and the social distancing norms prescribed. Most hotels are operating at less than half their capacity and that is evident in the top line numbers.