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Benares Hotels Limited (BHL), a subsidiary of The Indian Hotels Company Limited (IHCL), has released its financial results for the fourth quarter and full year ending March 31, 2024.
In the fourth quarter, BHL’s net profit surged by 52.70 per cent to Rs 11.59 crore compared to Rs 7.59 crore in the same period last year. The sales also witnessed a significant uptick, rising by 29.38 per cent to Rs 35.58 crore from Rs 27.50 crore in the previous year.
For the full fiscal year, BHL reported a substantial increase in net profit, rising by 54.15 per cent to Rs 36.04 crore compared to Rs 23.38 crore in the previous fiscal year.
Dr. Anant Narain Singh, Chairman, Benares Hotels Limited (BHL) said, “BHL reported a year on year growth of 31 per cent in total revenue crossing the milestone of hundred crores at INR 124 crores, a first in the company’s history. This performance was led by a 27 per cent growth in average room rates resulting in a record EBITDA margin of 44 per cent, a year on year expansion of 400 basis points.”
He added, “The construction of the new tower wing at Taj Ganges with 100 additional rooms is well underway and is expected to be operational in October 2025.”
Moreover, the company has announced a dividend of Rs 25 per share, representing a 250 per cent increase from the previous year’s dividend of Rs 20 per share. This dividend proposal, subject to shareholder approval at the forthcoming Annual General Meeting, underscores BHL’s commitment to delivering value to its shareholders.
As per the company’s filing on the BSE, “Recommended a dividend @ 250 % i.e., Rs. 25/- per share on 13,00,000 Equity Shares of Rs.10/- each (previous year @200% i.e., Rs. 20/- per Equity Share), subject to approval of the Shareholders at the forthcoming Annual General Meeting of the Company.”
On Friday, the shares of Benares Hotels Limited closed at Rs 8961.95, 1.27 per cent up from the previous day’s closing. The 52 week high and low of the share is Rs 10,051 and Rs 3,415 respectively.
