This International High-end Hotel Chain’s shares rose up to 6 percent after the business reported a 97 percent and 18 percent QoQ growth in net profit and sales in the third quarter, respectively, and announced a Rs 2,000 crore fundraising through qualified institutional placement.
With a market capitalization of Rs 15,692.16 crore, the shares of Chalet Hotels Ltd were trading at Rs 764.00 per share, increasing around 1.79 percent as compared to the previous closing price of Rs 750.60 apiece.
Looking into the company’s Performance, Chalet Hotels Ltd’s revenue increased by 18 percent on a quarter-on-quarter basis from Rs. 315 crores in Q2FY24 to Rs. 374 crores in Q3 FY24. Further, revenue increased by 29 percent year on year from Rs. 290 crores in Q3FY23 to Rs.374 crores in Q3FY24.
Chalet Hotels Ltd’s net profit increased by 97 percent on a quarter-on-quarter basis from Rs.36 crores in Q2FY24 to Rs. 71 crores in Q3FY24. Further, net profit decreased by 30 percent yearly from Rs. 102 crore in Q3FY23 to Rs.71 crore in Q3FY24.
According to the company filing, Chalet Hotels Ltd’s board of directors has approved fundraising, for an aggregate amount not exceeding Rs.2,000 crore through qualified institutional placement.
The company is investing in technology and IoT-enabled solutions, like digital check-ins, mobile keys, building management systems, and HVAC systems, to reduce energy use. In FY23, the Company obtained 78% of its power from renewable sources, aiming to achieve 100% renewable energy by FY 2030-31.
The business has signed a long-term licensing arrangement to create a 400-room hotel in Terminal 3 of Delhi International Airport. The hotel in New Delhi is being developed through a special-purpose vehicle, Chalet Airport Hotel Private Limited, a wholly-owned subsidiary of the company, and will give the company an entry into the North India market.
The stock gained 62.20 percent in six months and 113.41 percent in a year. Investing Rs 1 lakh in the organization produces Rs 2.13 lakh per year.
Chalet Hotels Limited is an India-based owner, developer, asset management, and operator of luxury hotels and serviced residences in Mumbai, Hyderabad, Bengaluru, and Pune. .
Written by:- Abhishek Singh
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