Share prices of Advani Hotels locked at 20 percent upper circuit on Tuesday on the back of strong Q4 numbers.
The company’s Q4 net profit rose by 75 percent at Rs 4.2 crore against Rs 2.4 crore, in the same quarter last fiscal.
The total income of the company was up 17.9 percent at Rs 17.1 crore versus Rs 14.5 crore.
The EBITDA increased by 50 percent at Rs 7.2 crore versus Rs 4.8 crore and EBITDA margin was up 900 bps at 42.1 percent against 33.1 percent.
Sunder Advani, CMD of Advani Hotels and Resorts in an interview to CNBC-TV18 said, “The company will take its cues from rise in domestic business.”
Also Read – See rise in domestic biz, higher occupancy in ’17: Advani Hotels
“With the dollar getting more expensive, people have shown preference to travel within the country. With Goa being the most favoured destination, their hotels have benefitted to a great extent,” he added.
At 11:18 hrs Advani Hotels and Resorts (India) was quoting at Rs 57.65, up Rs 9.60, or 19.98 percent on the BSE.
There were pending buy orders of 4,325 shares, with no sellers available.
Posted by Rakesh Patil