City Hotel Limited (CITY) has posted a net loss of Rs. 10.09 crore in the second quarter (Q2) of the fiscal year 2082/83, showing a slight improvement of 3.84% compared to Rs. 10.49 crore in the same period last year.
Revenue Declines Slightly Amid Rising Expenses
The company’s total revenue for the quarter fell by 1.44%, reaching Rs. 23.23 crore, down from Rs. 23.57 crore in Q2 of the previous fiscal year. Despite the modest decline in revenue, total expenses rose to Rs. 19.02 crore, reflecting an 8.89% increase compared to the same period last year.
Finance costs, however, showed a positive trend, recording a sharp 28.19% decline, amounting to Rs. 10.26 crore, which helped offset some of the losses.
Investment Portfolio and Equity Overview
City Hotel Limited’s investment portfolio stood at Rs. 19.07 crore, marking a significant increase of 299.28% from Rs. 4.78 crore in the previous year’s corresponding quarter. Meanwhile, the company’s other equity fell by Rs. 4.41 crore, showing an 83.46% decline, while property, plant, and equipment decreased slightly by 3.22%, totaling Rs. 48.70 crore.
The company’s paid-up capital reached Rs. 3.01 arba, reflecting an 80% growth from Rs. 1.67 arba last year.
Per Share Metrics and Financial Highlights
The net worth per share was recorded at Rs. 98.53, a 17.24% increase from Rs. 84.04 in the same period last year. Meanwhile, the earnings per share (EPS) stood negative Rs. 3.35 for the quarter, showing improvement from last year’s EPS of Rs. 6.27.
The quarter-end market price of City Hotel Limited shares was Rs. 470. The company did not report a quarter-end price-to-earnings (P/E) ratio due to negative earnings.
Key Financial Summary (Q2 2082/83 vs Q2 2081/82)
City Hotel Limited’s Q2 performance reflects a challenging business environment, with revenues slightly declining and expenses rising, but the company’s strong investment growth and reduced finance costs indicate potential for recovery in the coming quarters.
