read in the app
Indian Hotels, Tata Group’s hospitality business, has made huge profits. Indian Hotels Company’s consolidated net income more than quadrupled in the December quarter of 2022. Indian Hotels Company reported a consolidated net profit of Rs 403.56 crore for the quarter October-December 2022. The company had made a profit of Rs 95.96 crore in the same period a year ago. Indian Hotels shares closed at Rs 300.55 on the Bombay Stock Exchange (BSE) on Tuesday, up more than 3 percent.
Indian Hotels revenue up more than 50%
In the December quarter of 2022 of the current fiscal year, the consolidated revenue of Indian Hotels increased by 51.6 percent to Rs.1,685.8 crore. Indian Hotels consolidated revenue for December quarter of last fiscal year was Rs 1111.22 crore. The total spending of Indian hotels was Rs.1,248.62 crore in the October-December 2022 quarter compared to Rs.1,014.23 crore in the same period last year. The company recorded strong demand in the third quarter of the current financial year.
Also read – Adanis FPO took the air out of Hindenburg report, investors expressed confidence and bet heavily
The company’s shares exceeded Rs 180 to Rs 300
Indian Hotels Company shares have given investors a return of over 60% in less than a year. Shares in Tata Group hospitality company Indian Hotels stood at BSE on March 7, 2022 at a level of Rs 180.75. The company’s shares closed at 300.55 rupees on the BSE on 31 January 2023. The 52-week high in the company’s shares is Rs 348.70. Over the past 6 months, Indian Hotels shares are up around 12%. The company’s market capitalization is around Rs 42,690 crore.
Also Read- Mysterious Chinese Link Revealed in Hindenburg Report, Adani’s Links Added to This Person!
Disclaimer: The information provided here relates to stock performance only and does not constitute investment advice. Investing in the stock market involves risk and you should consult your adviser before investing.
