The net profit surged 550% and revenue from operations climbed 17% in Q3 December 2022 over Q2 September 2022.

Profit before income tax surged 562% QoQ to Rs 141.10 crore in Q3 December 2022. The company reported pre-tax loss of Rs 26.40 crore in Q3 December 2021.

Adjusted EBITDA jumped 36% QoQ and 152% YoY to Rs 119.30 crore in Q3 December 2022. Adjusted EBITDA margin stood at 40% in Q3 December 2022 as against 35% in Q2 September 2022 and 29% in Q3 December 2021.

The company's hospitality segment reported highest ever revenue of Rs 265 crore, up by 87% from Q3FY22 and 19% sequentially. Average daily room rate (ADR) stood at Rs 10,168, up by 100% over Q3FY22 and up 28% sequentially.

Occupancy was at 65% in Q3 December 2022 as against 60% in Q3 December 2021.

The REVPAR, or revenue per available room, for the third quarter was Rs 6,640, up 2.19x compared with Rs 3,035 in the same quarter last year.

Retail & commercial segment revenue stood flat QoQ at Rs 24.4 crore with EBITDA at Rs 19.8 crore during the quarter.

The company said it derived about 80% of its energy for its hotels, from renewable sources. All its properties are equipped with EV charging stations.

Speaking on the financial results, Sanjay Sethi, MD & CEO, Chalet Hotels, said, "I am delighted to report that for the second consecutive quarter, we have had record-breaking numbers with the highest-ever revenues and EBITDA for the company. This has been delivered on the back of strong domestic business travel, rebound of the MICE segment and with very strong Average Room Rates. Led by sectoral tailwinds, our aggressive growth plans and a focused strategy for value creation, the best for Chalet Hotels Limited is yet to come."

Chalet Hotels is an owner, developer, asset manager and operator of high-end hotels in key metro cities in India. CHL portfolio comprises of seven operating hotels, including a hotel with a co-located serviced residence, which are situated across the markets of the Mumbai Metropolitan Region, Hyderabad, Bengaluru and Pune.