Benares Hotels share price rallies 14% after Q3 results; profits soar 20%

Benares Hotels share price gained 5.53 per cent at Rs 571.80 a piece on the BSE in Wednesday’s intraday trade. This came after the company announced its financial results for the third quarter and nine months ending December 31, 2024 (Q3FY24).  

 

Benares Hotels delivered strong growth in the third quarter with revenue increasing by 16.2 per cent to Rs 40.1 crore compared to Rs 34.5 crore in Q3FY24. The company's Ebitda also rose by 19.2 per cent to Rs 19.9 crore, up from Rs 16.7 crore in the same period last year. Profit after tax (PAT) for the quarter surged by 20.4 per cent to Rs 13.6 crore, compared to Rs 11.3 crore in Q3FY24.  

 

For the nine-month period ending December 31, 2024 (9MFY25), revenue stood at Rs 90.2 crore, reflecting a 3.5 per cent increase from Rs 87.2 crore in the same period of the previous fiscal. Ebitda grew by 10.2 per cent to Rs 41.4 crore compared to Rs 37.4 crore in 9M FY24. PAT witnessed a notable rise of 11.5 per cent, reaching Rs 27.2 crore, up from Rs 24.4 crore in the corresponding period last year.  

 

“BHL reported three consecutive quarters of high double-digit growth in revenue leading to an all-time high Ebitda margin 46 per cent and PAT of Rs 27.2 crores for the nine-month period ending December 2024. Domestic demand continues to be strong and quarter four is expected to deliver a record revenue with the upcoming Kumbh Mela and related travels in the region,” said Dr Anant Narain Singh, Chairman, Benares Hotels.

 

Benares Hotels has a total market capitalisation of Rs 1,198.29 crore. Its shares are listed at a price to earnings multiple of 27.72 and at an earning per share of 298.28.

 

At 12:17 PM, the stock price of the company rose by 11.24 per cent at Rs 9200.05 a piece on the BSE. By comparison, the BSE’s Sensex was up 0.30 per cent to 76,732.72 level.