MARKETS

Chalet Hotels Surges 6% in Afternoon Trade After Healthy Q3 Earnings

Picture Source: Internet

Shares of Chalet Hotels surged nearly 6% on the afternoon of January 24, as earnings were positive on all parameters for the quarter ending December 2023.

The stock was trading at Rs 362 on the NSE at 2:19 pm, continuing its northward advance for the fourth consecutive session.

The hotel chain operator posted a consolidated profit of Rs 102.3 crore in the December quarter, compared with a loss of Rs 14.6 crore a year earlier and a notable increase from the Rs 15.7 crore reported in the previous quarter.

The volume growth was driven by healthy revenue and operating performance. Higher other income also boosted profitability.

In a bourse filing dated January 24, K Raheja Corp group of companies said consolidated operating income for the quarter was Rs 2,897 crore, up 76.5% from the same period in the previous fiscal.

On an operational level, EBITDA nearly tripled to Rs 113.5 crore in the December quarter of FY23, up from Rs 40.4 crore in the previous financial year. The operating margin for the quarter was 39.2%, up more than 14 basis points year-over-year.

Get Daily Prediction & Stocks Tips On Your Mobile