CIEL Group’s Profits Double to Rs 4.3 Billion, Driven by Strong Revenue Growth

CIEL Group has reported a striking surge in profits, doubling its net profits to Rs 4.3 billion for the fiscal year ending on June 30, up from Rs 2.1 billion the previous year.

The company also experienced a substantial revenue surge, rising from Rs 28.5 billion to Rs 35.4 billion, indicating a remarkable 24% growth.

The company’s leadership emphasised the significance of diversification and strategic positioning for sustained competitiveness and profitability.

Leveraging operations in regions like India, with superior GDP growth, remains a focal point.

The group achieved an EBITDA of Rs 7.1 billion, and free cash flow surged over 100% to Rs 4.2 billion, following a 70% increase in maintenance capex.

Debt was reduced by Rs 1.1 billion, resulting in a debt-to-equity ratio of 28.6%. 

The Hotels & Resorts sector saw a notable increase in revenue, while the Finance division recorded a 13% growth.

The Properties segment and Textile division also experienced significant revenue surges.

The healthcare sector continues its expansion efforts with a 16% revenue increase to Rs 4.1 billion and an EBITDA of Rs 803 million.

Source: Le Mauricien