Benares Hotels Q1 FY27 Results (BSE: 509438)
Signal: Margin pressure
The read
Q1FY27 revenue grew 35.5% YoY but EBITDA margin contracted 640bps YoY to 40.8% due to a sharp rise in other expenditure (+58.7% YoY) and depreciation (+73.6% YoY), resulting in modest PAT growth of 8.8%.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹33.89 Cr | 35.5% | -30.3% |
| Net profit | ₹8.25 Cr | 8.8% | |
| EPS | ₹63.45 | ||
| EBIT margin | 40.8% |
P&L walk
Revenue grew strongly YoY but margins compressed due to higher other expenditure and depreciation, leading to single-digit PAT growth.
Key positives
- Revenue grew 35.5% YoY to ₹3,388.92 Lakh
- Net profit grew 8.8% YoY to ₹824.87 Lakh
Key concerns
- EBITDA margin contracted 640bps YoY to 40.8% driven by a 58.7% YoY increase in other expenditure and 73.6% increase in depreciation
- Sequential decline in revenue and profit is seasonal but margin compression YoY is a concern
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