THELEELA · Consumer Services
Leela Palaces Hotels & Resorts Ltd. reported revenue of ₹457 cr for October to December 2025, +23.5% on the year and +46.9% on the quarter. It is the highest quarterly revenue in the last 7 quarters on record.
Operating profit (EBITDA) was ₹235 cr, a margin of 51.4%, +88 bps on the year and +769 bps on the quarter. Over the last 7 quarters the margin has ranged from 28.9% to 53.4%, averaging 43.7%. Operating costs grew +21.3% against revenue growth of +23.5%, so more of each rupee of sales reached operating profit.
Net profit was ₹148 cr, +164.3% on the year and +97.3% on the quarter, with earnings per share of ₹4.43. Profit before other income, one-offs and tax grew faster, at +339.5%; other income, one-offs or tax held the headline back. The tax rate was 15% against an average of 25% over the previous 4 quarters, which lifted profit this quarter.
On earnings per share of ₹11.18 over the last four quarters, the stock at ₹605.25 trades at 54.1 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Core profit grew faster than reported profit: one-offs held the headline down.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹228 cr | ₹277 cr | ₹370 cr | ₹425 cr | ₹275 cr | ₹311 cr | ₹457 cr | ₹484 cr | ₹352 cr |
| YoY | — | — | — | — | +21% | +12% | +24% | +14% | +28% |
| EBITDA margin | 28.9% | 41.2% | 50.5% | 53.4% | 36.7% | 43.7% | 51.4% | 55.0% | 36.4% |
| Other income, % of PBT | — | — | 46% | 28% | 169% | 25% | 4% | 5% | 14% |
| Exceptional items | — | — | — | — | — | — | — | — | — |
| Tax rate | — | — | 21% | 13% | 45% | 20% | 15% | 17% | 24% |
| Net profit | −₹75.0 cr | −₹51.0 cr | ₹56.0 cr | ₹117 cr | ₹9.0 cr | ₹75.0 cr | ₹148 cr | ₹172 cr | ₹49.0 cr |
| YoY | — | — | — | — | — | — | +164% | +47% | +444% |
| Core profit YoY | — | — | — | — | — | — | +339% | +102% | — |
| EPS | — | — | — | ₹4.25 | ₹0.26 | ₹2.24 | ₹4.43 | ₹5.14 | ₹1.46 |
| Flags | · | · | 1 | · | 2 | 1 | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Leela Palaces Hotels & Resorts Ltd. reported revenue of ₹457 cr (+23.5% on the year) and net profit of ₹148 cr (+164.3% on the year) for October to December 2025.
Profit before other income, exceptional items and tax moved +339.5% on the year, against +164.3% for reported profit.
None of the 7 checks that could run raised a question.
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