LEMONTREE · Consumer Services
Lemon Tree Hotels Ltd. reported revenue of ₹355 cr for October to December 2024, +22.4% on the year and +25.0% on the quarter. It is the highest quarterly revenue in the last 7 quarters on record.
Operating profit (EBITDA) was ₹184 cr, a margin of 51.8%, +321 bps on the year and +570 bps on the quarter. Over the last 7 quarters the margin has ranged from 42.9% to 52.3%, averaging 47.7%. Operating costs grew +14.8% against revenue growth of +22.4%, so more of each rupee of sales reached operating profit.
Net profit was ₹80.0 cr, +81.8% on the year and +128.6% on the quarter, with earnings per share of ₹0.79. Profit before other income, one-offs and tax grew 80.0%, so the profit growth came from the business itself. The tax rate of 20% is in line with its recent average.
On earnings per share of ₹2.26 over the last four quarters, the stock at ₹113.65 trades at 50.3 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.
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.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹227 cr | ₹290 cr | ₹327 cr | ₹268 cr | ₹284 cr | ₹355 cr | ₹379 cr | ₹316 cr | ₹306 cr | ₹406 cr | ₹416 cr | ₹345 cr |
| YoY | — | — | — | +20% | +25% | +22% | +16% | +18% | +8% | +14% | +10% | +9% |
| EBITDA margin | 44.9% | 48.6% | 52.3% | 42.9% | 46.1% | 51.8% | 53.6% | 44.3% | 42.8% | 50.5% | 51.7% | 43.2% |
| Other income, % of PBT | 9% | 2% | 4% | 0% | 2% | 1% | 1% | 3% | 4% | −30% | 1% | 3% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 21% | 6% | 31% | 23% | 20% | 12% | 23% | 25% | 17% | 18% | 28% |
| Net profit | ₹26.0 cr | ₹44.0 cr | ₹84.0 cr | ₹20.0 cr | ₹35.0 cr | ₹80.0 cr | ₹108 cr | ₹48.0 cr | ₹42.0 cr | ₹82.0 cr | ₹116 cr | ₹57.0 cr |
| YoY | — | — | — | −29% | +35% | +82% | +29% | +140% | +20% | +2% | +7% | +19% |
| Core profit YoY | — | — | — | −17% | +38% | +80% | +42% | +110% | +23% | +30% | +17% | +26% |
| EPS | ₹0.29 | ₹0.45 | ₹0.85 | ₹0.25 | ₹0.37 | ₹0.79 | ₹1.07 | ₹0.48 | ₹0.44 | ₹0.79 | ₹1.15 | ₹0.58 |
| Flags | · | · | 1 | 1 | ✓ | ✓ | ✓ | 1 | 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.
Lemon Tree Hotels Ltd. reported revenue of ₹355 cr (+22.4% on the year) and net profit of ₹80.0 cr (+81.8% on the year) for October to December 2024.
Profit before other income, exceptional items and tax moved +80.0% on the year, against +81.8% for reported profit.
None of the 7 checks that could run raised a question.
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