India's Chalet Hotels sees best day in 2 months on Dec-qtr profit

Chalet Hotels

24/01/2023 09:50

** Shares of Indian luxury hotels developer Chalet Hotels Ltd  CHAL.NS  
rise as much as 6.73% to 365 rupees, highest level since Dec. 12, 2022
    ** CHAL marks biggest intraday pct gain since Nov. 24
    ** Co reports a consolidated net profit of 1.02 billion rupees ($12.49
million) vs a loss of 146.5 million rupees a year ago  urn:newsml:reuters.com:*:nFWN3490PL
    ** Revenue from operations rose 76.5% to 2.9 billion rupees from 1.64
billion rupees a year ago 
    ** Co said its total income grew 94% to 3.2 bln rupees YOY 
    ** Strong revenue and EBITDA has been delivered on the back of "strong
domestic business travel, rebound of the MICE segment and very strong Average
Room Rates" Managing Director and Chief Executive Officer Sanjay Sethi said
    ** More than 1.5 mln shares change hands by 2:51 p.m IST, 15.5x the 30-day
avg 
    ** Stock up ~61% in 2022
($1 = 81.6350 Indian rupees)
 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com;))