trending Market Intelligence /marketintelligence/en/news-insights/trending/c2mUNy-Cq17ApHkn0Wc71A2 content esgSubNav
In This List

Benares Hotels fiscal Q2 profit falls YOY

Podcast

Street Talk | Episode 126: Hunting the bears, making the bull case for CRE

Blog

Investment Banking Essentials May 15

Video

Panel Discussion: Modernization Initiatives Advancing the U.S. Capital Market

Blog

Technology & Automation Insights: Elevating KYC and onboarding efficiency


Benares Hotels fiscal Q2 profit falls YOY

Benares Hotels Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 came to 2.23 Indian rupees per share, a decrease of 50.7% from 4.52 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.9 million rupees, a decrease of 50.7% from 5.9 million rupees in the year-earlier period.

The normalized profit margin declined to 3.4% from 7.5% in the year-earlier period.

Total revenue grew 9.3% year over year to 86.0 million rupees from 78.7 million rupees, and total operating expenses increased 16.4% from the prior-year period to 83.8 million rupees from 72.0 million rupees.

Reported net income declined 53.2% on an annual basis to 2.1 million rupees, or 1.64 rupees per share, from 4.6 million rupees, or 3.50 rupees per share.

As of Nov. 4, US$1 was equivalent to 65.45 Indian rupees.