Highlights:
FY15 Q4 Results:
- Total
Operating Income for the quarter rose to INR 502.4million, up 24%from the corresponding quarter of the previous
year
- Income
from Sale of Vacation ownership plan rose to INR 280.9million, representing a 34.1%growth over the
previous year
- Profit
after Tax of INR 23.6 million reported for the quarter, as compared toa
loss of INR 57.8million for the corresponding quarter of the previous
year.
FY15 Results:
- Total
Operating Incomefor the year rose to INR 1869.4 million, up 27% over the previous year
- Profit
After Tax of
INR 5.2 million reported
- Income
from Sale of Vacation ownership plan reported at INR 943 million,
an increase of 48.7% over the previous year.
Sterling
Holiday Resorts (India) Limited (STERLINH), India’s leading
Vacation Ownership & Leisure Hospitality Company, today, announced its results
for the quarter ending March 31, 2015, along with the Full Year results for FY15.
The Total Operating Incomefor Q4 was reported as INR 502.4 million as compared to
INR 405.8million in the
corresponding period of the previous year, representing an increase of 24%.Income from Sale of
Vacation ownership plangrew by 34.1%from
INR209.4 million in the
same quarter of the previous fiscal to INR 280.9 million in Q4 of FY15. The Company declared a Profit after
Tax of INR 23.6 million for the quarter,
as compared to a loss of INR.57.8million in the same period of the previous
fiscal.
For the financial year ended March 31, 2015, the Company
declared Profit after Tax (PAT) of INR 5.2million
on Total Operating Incomeof INR 1869.4million.
EBITDA was reported as INR 152
million, as compared to INR 71 million in FY14.Income from Sales of
Vacation Ownership Plans rose to INR 943 million, an increase of 48.7%over the
previous year performance of INR 634million.
The Company’s FY15 results is a significant indicator of
growing market confidence in the Sterling brand. More so, if one looks at the strong
growth in the Sales of the Company’s Vacation Ownership plans in the year. The
Company follows a mixed use model with all its resorts welcoming both members
and leisure holiday guests. In the wake of the substantial upgradation of the
Company’s resorts and holiday experience, the Company was able to successfully
increase its resort occupancy to 56% from the previous year’s 49% and the Average
Room Rate (ARR) by 19.2%.
Commenting
on the results, Ramesh Ramanathan,
Managing Director, Sterling Holidays said, “The FY15 performance speaks for
itself. As should the year-on-year, improved performance metrics over the last
3-4 years. With a solid foundation now laid, at Sterling we are looking to the
future with optimism and much excitement. We have begun FY16 on a strong,
confident note by opening 4 new resorts in one go at Corbett, Daman, Shirdi and
Dindi (on the banks of the river Godavari in Andhra Pradesh).This summer, we are
also opening the doors to 6 upgraded resorts in our existing network. With the
addition of 4 new resorts, Sterling is now in a position to offer varying holiday
experiences - from hillside and riverside to spiritual, beach and wildlife – in
24 resorts across India.
About
Sterling Holiday Resorts (India) Limited
Sterling Holiday Resorts (India) Limited is a leading Leisure Hospitality company in India. Sterling was incorporated in 1986 with the vision of delivering Great Holiday experiences to Indian Families. To achieve this vision, the company pioneered Vacation Ownership in India and set about building a network of leisure resorts at some of the best holiday destinations in India. Currently, Sterling has an inventory of 1767 rooms spread across 24 resorts located in Corbett, Daman, Darjeeling, Dindi, Dharamshala, Gangtok, Goa, Karwar, Kodaikanal, Lonavala, Manali, Munnar, Mussoorie, Nainital, Ooty, Puri, Sariska, Shirdi, Thekkady, Yelagiri and Yercaud. The company also has 15 additional sites where it plans to add new resorts in the coming years.
Sterling Holiday Resorts (India) Limited is a leading Leisure Hospitality company in India. Sterling was incorporated in 1986 with the vision of delivering Great Holiday experiences to Indian Families. To achieve this vision, the company pioneered Vacation Ownership in India and set about building a network of leisure resorts at some of the best holiday destinations in India. Currently, Sterling has an inventory of 1767 rooms spread across 24 resorts located in Corbett, Daman, Darjeeling, Dindi, Dharamshala, Gangtok, Goa, Karwar, Kodaikanal, Lonavala, Manali, Munnar, Mussoorie, Nainital, Ooty, Puri, Sariska, Shirdi, Thekkady, Yelagiri and Yercaud. The company also has 15 additional sites where it plans to add new resorts in the coming years.
Sterling is in the process of merging
and then becoming a 100% independently managed subsidiary of Thomas Cook
(India) Limited (TCIL), India’s leading integrated travel and travel related
financial services company. TCIL is a part of Fairfax Financial Holdings Limited,
a $38.2 billion global investment and insurance holding company, headquartered
in Toronto, Canada. Fairfax’s portfolio of companies includes several
well-known global companies in the insurance, re-insurance and restaurant
chains sectors. In India, Fairfax has a majority holding in TCIL, and has also
co-promoted ICICI Lombard. In 2012, through its Indian investment business,
Fairbridge, Fairfax stepped up its pace of acquisitions commencing with TCIL,
and subsequently Ikya Human Capital Solutions (now Quess) and most recently,
Sterling Holidays Resorts India Limited.
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