Advani Hotels -; Resorts stocks hit new 52-week high as net profit rises 363% yoy in Q3FY22

8 Feb 2022 , 11:52 AM

Advani Hotels & Resorts (India) Ltd stocks hit new 52-week high on Tuesday after the board has approved their financial results at their board meeting held on February 07, 2022.

For the quarter ended December 31, 2021, the company reported a total net revenue of Rs2529 lakh, as compared to total net revenue of Rs1234 lakh, during the corresponding quarter of the preceding financial year. The revenue has more than doubled, in spite of the adverse impact of Covid-19 on the hospitality industry and in spite of the decline in the number of international tourists visiting Goa.

The net profit after tax for this quarter increased from Rs161 lakhs to Rs746 lakh, which reflects a growth of 363%.

During the quarter, the hotel recorded an 82.4% average occupancy in the month of October, an 87.9% average occupancy in November and an 87.3% average occupancy in the month of December 2021.

“We are pleased to share that this has been the best quarter in the entire history of the company,” said Advani Hotels in a regulatory filing on Tuesday.

At around 11:51 AM, Advani Hotels & Resorts (India) was trading at Rs105 apiece up by Rs13.95 or 15.32%, after hitting 52-week high at Rs06 per piece on Sensex.