Hidden Tata Stock That Soared 174% In 1-Yr, Q3 FY24 Profit Rallies 36%

Benares Hotels Ltd (BHL) shares witnessed strong rally of 174% in last 1-year and 87% in last 6-months. BHL, a subsidiary of The Indian Hotels Company Limited (IHCL), reported its results for the third quarter ending December 31, 2023.

The company announced its revenue for FY 23/24 at Rs 34.5 crore as against Rs 28.6 crore declared in FY 23/24. The company announced EBITDA at Rs 16.7 crore for the quarter ended December 2023 as against Rs 12.7 crore reported in the corresponding quarter of last year.

The company announced its profit for the quarter under review at Rs 11.3 crore, up 36.14% as compared to Rs 8.3 crore in the similar quarter of last year.

Dr. Anant Narain Singh, Chairman, Benares Hotels Limited (BHL) said, "We witnessed high demand-owing to increase in domestic travel and events in the city. BHL reported three consecutive quarters of over 20% growth in revenue leading to an all-time high PAT for the nine-month period ending December 2023."

Key Highlights of BHL: BHL started construction of a new wing comprising of 100 additional rooms and a restaurant. In the first phase of renovation, Taj Ganges has operationalized its new swimming pool, according to its BSE filing.

Benares Hotels Shares Performance & Return: Last trading price of Benares Hotels shares on BSE is Rs 9379.85 apiece with intraday fall of 0.44%. The 52-week high price of Benares Hotels shares on BSE is Rs 10,051.00 apiece and 52-week low price is Rs 3050.00 apiece, respectively. The company has a market capitalisation of Rs 1,219.38 crore. Benares Hotels shares surged 47% in last 3-months, rallied 397% in last 2-years, and offered return of 627% in last 3-years. In last 5-years, Benares Hotels shares gained 578% and rose 1620% in last 10-years.

Benares Hotels Dividend Yield: Benares Hotels Ltd announced 22 dividends since August 14, 2001. In the last 12 months, Benares Hotels announced an equity dividend amounting to Rs 20.00 per share. If the current share price of Rs 9379.85 is taken into consideration, Benares Hotels offers dividend yield of 0.21%, according to Trendlyne.

Benares Hotels About: Benares Hotels Limited (BHL) is a listed public limited company incorporated in 1971. The Company operates its hotels, viz. Taj Ganges and Taj Nadesar Palace in Varanasi and Ginger, Gondia in Maharashtra. The Company became a subsidiary of The Indian Hotels Company Limited (IHCL) in 2011.

Disclaimer: The stock highlights Q3 results, shares rally and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.