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ICICI Direct Report
Lemon Tree Hotels Ltd. reported a weak set of Q2 FY21 numbers amid the ongoing pandemic environment.
However, the company managed to report Ebitda, though at negligible level, due to stringent cost control measures initiated during the quarter.
Revenues for the quarter fell 68.8% YoY to Rs 47.6 crore (versus our estimate of Rs 52 crore) as only 86% of the company’s inventory was operational.
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