Lemon Tree Hotels soars over 6.40% after mid-cap firm reports mixed fourth-quarter results

Lemon Tree Hotels shares soared by over 6.40 per cent on BSE on Thursday (May 30, 2024) after the mid-cap hotel chain reported its fourth-quarter (January-March quarter, Q4 FY2324) results a day ago.

The stock that closed at Rs 138.55 in the previous session rose by 6.42 per cent to Thursday's high of Rs 147.45 after starting the trading session at Rs 141.95.

Lemon Tree shares closed the trading session lower by 0.72 per cent, or Rs 1.00, at Rs 137.55 each on Thursday.  

Lemon Tree Hotels' Q4FY24 Conso YoY 

Lemon Tree Hotels' profit after tax (PAT) soared by 52 per cent to Rs 67 crore in the fourth quarter compared to Rs 44 crore in the same quarter last fiscal.

The company's revenue from operations jumped by 29.20 per cent to Rs 327 crore in the quarter under review compared to Rs 253 crore Year-on-Year (YoY). 

Lemon Tree Hotels' EBITDA saw a rise of 22 per cent to Rs 171 crore in Q4 against Rs 140 crore in the corresponding period last year.

The company's margin, however, declined to 52.3 per cent in the fourth quarter compared to 55.4 per cent in the same quarter last fiscal.