Benares Hotels logs 46% yoy growth in revenue for Q4FY22; stock surges ~5%

20 Apr 2022 , 12:32 PM

Benares Hotels Limited (BHL), a subsidiary of The Indian Hotels Company Limited (IHCL), reported its results for the fourth quarter ending March 31, 2022.

The company has reported a total income of Rs1,617.69 lakh in Q4FY22 as against Rs1,105.98 lakh in Q4FY21, up by 46% yoy. Its revenue for the financial year ended March 2022 stood at Rs4,993.84 lakh as against Rs2,480.88 lakh in FY21, logging a growth of 101.29% yoy.

Benares’ PBT for the quarter under review stood at Rs417.87 lakh, up by 211.63% yoy as against Rs134.09 lakh in Q4FY21. PBT for the financial year ended March 2022 jumped significantly at Rs770.83 lakh against a loss of Rs696.85 lakh in FY21.

The company’s PAT for FY22 was reported at Rs565.28 lakh against a loss of Rs522.86 lakh in FY21.

Its PAT for Q4FY22 jumped 196.47% yoy at Rs303.41 lakh as compared to Rs102.34 lakh in Q4FY21.

It logged growth of 68% yoy in EBITDA at Rs580 lakh in Q4FY22 as compared to Rs350 lakh in Q4FY21.

Benares Hotels installed a solar power plant of 178 kwp capacity at Gateway Hotel, Gondia. In addition to saving on electricity costs, it will also reduce the carbon footprint by approximately 178 tonnes annually.

The company has also recommended a dividend of 100% or Rs10 per share on 13,00,000 Equity Shares of Rs10 each subject to the approval of the Shareholders at the forthcoming Annual General Meeting of the Company.

Benares Hotels is currently trading at Rs2,500 up by Rs129.15 or 5.45% from its previous closing of Rs2,370.85 on the BSE. Its scrip has touched intraday high and low of Rs2,500 and Rs2,357.40 respectively.