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Tourism Finance Corporation gains after decent Q4 results

Capital Market/ 09:32 , Apr 20, 2012

Tourism Finance Corporation of India rose 1.88% at Rs 27.10 at 9:29 IST on BSE after net profit rose 17.90% to Rs 23.38 crore on 46.86% rise in net sales to Rs 42.50 crore in Q4 March 2012 over Q4 March 2011.

The result was announced after market hours on Thursday, 19 April 2012.

Meanwhile, the BSE Sensex was down 24.57 points, or 0.14%, to 17,479.14.

On BSE, 15,000 shares were traded in the counter as against an average daily volume of 22,744 shares in the past one quarter.

The stock hit a high of Rs 27.50 and a low of Rs 26.95 so far during the day. The stock had hit a 52-week high of Rs 32.20 on 14 July 2011. The stock had hit a 52-week low of Rs 18.15 on 23 December 2011.

The small-cap company has an equity capital of Rs 80.72 crore. Face value per share is Rs 10.

Net profit rose 11.39% to Rs 49.47 crore on 18.61% rise in net sales to Rs 129.27 crore in the year ended March 2012 over the year ended March 2011.

The board of Tourism Finance Corporation of India has recommended a dividend of Rs 1.20 per share for the year ended March 2012.

Tourism Finance Corporation of India gives financial assistance to hotels and non-conventional tourism projects such as amusement parks, ropeways, car rental services, ferries for inland water, transport, airtaxis, training institutes for hotel personnel, airport facilitation centres, etc.

 



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