Kamat Hotels (India) Climbs After Q3 PAT Soars 74%

Courtesy| News Source: business-standard.com

Kamat Hotels (India) rose 3.90% to Rs 40 after consolidated net profit soared 74.33% to Rs 7.20 crore on 4.78% decline in net sales to Rs 62.28 crore in Q2 September 2019 over Q2 September 2018.

Consolidated profit before tax (PBT) rose 36.88% to Rs 10.17 crore in Q3 December 2019 as compared to Rs 7.43 crore in Q3 December 2018. Tax expense fell 10.30% to Rs 2.96 crore in Q3 December 2019 over Rs 3.30 crore in Q3 December 2018. The results was announced during market hours today, 21 January 2020.

In the past one month, the scrip rose 13.79% to its current market price of Rs 40.

Kamat Hotels (India) is engaged in the business of hospitality and allied businesses. The company principally operates hotels and restaurants. It's activities are categorized as: operation of hotels owned by the company, management of hotels owned by other parties under contract, catering services and timeshare. It has four brands, such as Orchid, VITS, Gadh and Lotus. It offers the VITS hospitality in Mumbai, Aurangabad, Nagpur, Pune, Nashik, Delhi and Bhubaneshwar.

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