THELEELALeela Palaces Hotels & Resorts Ltd

Leela Palaces Hotels and Resorts Q2 FY27 Results: Consolidated Net Profit ₹94.59 Crore on Total Income of ₹418 Crore

Earnings
Hotels

Blacklitt Research14 October 20263 min read

An old postcard view of a hotel lobby with columns and a statue — Unknown photographer (historic postcard), via Wikimedia Commons (public domain). Illustrative image.

Leela Palaces Hotels and Resorts reported consolidated total income of ₹418.03 crore and net profit of ₹94.59 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹172.10 crore and net profit was ₹79.71 crore.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹418 crore, up 25.4% YoY, up 16.0% QoQ
Net profit: ₹94.59 crore, up 26.6% YoY, up 94.0% QoQ
EPS: ₹2.83, against ₹2.35 in Q2 FY26
Share of loss of joint ventures and associate: ₹11.48 crore, against ₹2.41 crore a year earlier

Standalone

The company on its own, without its subsidiaries

Total income: ₹172 crore, up 11.0% YoY, up 20.2% QoQ
Net profit: ₹79.71 crore, up 9.4% YoY, up 31.0% QoQ
EPS: ₹2.39, against ₹2.24 in Q2 FY26
Other income: ₹50.95 crore, 30% of standalone total income

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	418.03	333.45	+25.4%	360.50	+16.0%
Revenue from operations	411.86	310.65	+32.6%	351.95	+17.0%
Other income	6.17	22.80	-72.9%	8.55	-27.8%
	94.59	74.72	+26.6%	48.76	+94.0%
Finance costs	38.42	38.08	+0.9%	39.30	-2.2%
Depreciation	33.60	26.99	+24.5%	32.67	+2.8%
Tax expense	15.80	18.53	-14.7%	15.59	+1.3%
Net profit margin	22.63%	22.41%	+0.22 pp	13.53%	+9.10 pp
Tax as share of profit before tax	13.0%	19.4%	-6.41 pp	19.5%	-6.53 pp
EPS, basic (₹)	2.83	2.35	+20.4%	1.46	+93.8%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Revenue grew a third and profit a quarter, and the operating margin narrowed. Revenue from operations rose 32.6% to ₹411.86 crore, EBITDA rose to ₹193.89 crore from ₹160.73 crore (+20.6%), and the EBITDA margin was 47.1% against 51.7% (derived). Net profit rose 26.6% to ₹94.59 crore.

Two lines worked against profit and one for it. Other income fell to ₹6.17 crore from ₹22.80 crore and the group's share of the net loss of joint ventures and an associate rose to ₹11.48 crore from ₹2.41 crore, while tax fell to 13.0% of profit before tax from 19.4%. Finance costs were ₹38.42 crore, unchanged, and depreciation rose 24.5% to ₹33.60 crore. The filing does not say why the joint venture losses rose.

Against June profit nearly doubled from ₹48.76 crore on 17.0% more revenue. For H1 FY27 revenue from operations is ₹763.82 crore against ₹585.44 crore (+30.5%) and net profit ₹143.35 crore against ₹83.42 crore. The company reports one segment, hoteliering. Earnings per share were ₹2.83 against ₹2.35.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	172.10	155.10	+11.0%	143.12	+20.2%
Revenue from operations	121.15	101.85	+18.9%	102.47	+18.2%
Other income	50.95	53.25	-4.3%	40.65	+25.3%
	79.71	72.85	+9.4%	60.86	+31.0%
Finance costs	7.22	7.67	-5.9%	7.84	-7.9%
Depreciation	8.61	7.11	+21.1%	8.24	+4.5%
Tax expense	20.08	18.48	+8.7%	13.86	+44.9%
Net profit margin	46.32%	46.97%	-0.65 pp	42.52%	+3.79 pp
Tax as share of profit before tax	20.1%	20.2%	-0.11 pp	18.6%	+1.57 pp
EPS, basic (₹)	2.39	2.24	+6.7%	1.82	+31.3%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

The parent earns much of its income from outside hotel operations. Standalone revenue from operations was ₹121.15 crore (+18.9%) and other income ₹50.95 crore, 30% of total income (derived), and net profit rose 9.4% to ₹79.71 crore, 84% of the group's (derived). The filing does not say what the other income is.

Tax took 20.1% of profit before tax against 20.2%, finance costs fell 5.9% and depreciation rose 21.1%. The notes mention the Leela Employee Stock Option Scheme 2024 for employees of the company and its subsidiaries, and an earlier exceptional item the company recorded for the regulatory-driven, non-recurring effect of the new labour codes.

Inference

Leela's revenue and profit are growing, but joint venture losses rose several times over and other income fell, so net profit grew more slowly than revenue.

The filing does not explain the larger joint venture losses, so whether they continue is not known from it.

Reference: Original filing (PDF)

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Leela Palaces Hotels and Resorts Q2 FY27 Results: Consolidated Net Profit ₹94.59 Crore on Total Income of ₹418 Crore

Key highlights

Consolidated

Standalone

Summary

Inference

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