Indian Hotels gains on strong Q3 results

Indian Hotels Company rose 0.57% to Rs 141 at 12:58 IST on BSE, on reporting 52.9% surge in net profit to Rs 134.58 crore in Q3 December 2007 over Q3 December 2006.

The results were announced after trading hours on Monday, 28 January 2008.

Meanwhile, BSE Sensex was down 116.88 points or 0.64% to 18,035.90.

On BSE, 1.54 lakh shares were traded in the counter. The scrip had an average daily volume of 5.40 lakh shares in the past one quarter.

The stock hit a high of Rs 145 and a low of Rs 138.50 so far during the day. The stock had a 52-week high of Rs 177.80 on 2 January 2008 and a 52-week low of Rs 101 on 22 January 2008.

The mid-cap scrip had underperformed the market over the past one month 28 January 2008, declining 11.24% compared to the Sensex's decline of 10.17%. It had outperformed the market in the past one quarter, declining 0.11% compared to Sensex's decline of 8.24%.

The company's current equity is Rs 60.28 crore. Face value per share is Rs 1.

The current price of Rs 141 discounts Q3 December 2007 annualized EPS of Rs 8.93 by a PE multiple of 15.79.

Indian Hotels Company (IHCL)'s net sales rose 27.1% to Rs 520.62 crore in Q3 December 2007 over Q3 December 2006.

Tata Group company IHCL, better known as the Taj group of Hotels, set up in the early twentieth century, has since emerged as one of the leading players in the domestic hospitality sector in India and overseas.