The shares of this hospitality and Catering company gained up to 7 percent after the company’s net profit and revenue increased by 37 percent and 21 percent respectively YoY in the third quarter.
With a market capitalization of Rs 1,264.90 crore, the shares of Benares Hotels Ltd were trading at Rs 9,751.95 per share, increasing around 4.67 percent as compared to the previous closing of Rs 9,316.50 apiece.
Looking into the company’s Performance, Benares Hotels Ltd’s revenue increased by 30 percent on a quarter-on-quarter basis from Rs. 26 crores in Q2FY24 to Rs. 34 crores in Q3 FY24. Further, revenue increased by 21 percent year on year from Rs. 28 crores in Q3FY23 to Rs.34 crores in Q3FY24.
Benares Hotels Ltd’s net profit increased by 57 percent on a quarter-on-quarter basis from Rs. 7 crores in Q2FY24 to Rs. 11 crores in Q3FY24. Further, net profit increased by 37 percent year on year from Rs. 8 crores in Q3FY23 to Rs.11 crores in Q3FY24.
The stock gave an 89.59 percent return in six months and a 229.82 percent return so far this year. If an investor invests Rs 1 lakh in the company, it would be worth Rs 3.29 lakhs in a year.
Benares Hotels Ltd. reported return ratios in the recent financial year with a return on equity (ROE) of 26.3 percent and a return on capital employed (ROCE) of 34.2 percent.
Benares Hotels Ltd’s recent shareholding pattern, The Promoters of The company own 62.57 percent while Retail shareholders own a 37.43 percent stake in the company.
Benares Hotels Limited, situated in India, operates hotels. The company mostly operates in the hospitality and catering industry. Its hotels include the Taj Ganges and Nadesar Palace in Varanasi, as well as the Ginger Hotel in Gondia, Maharashtra.
Written by:- Abhishek Singh
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