Lemon Tree Hotels shares surge over 6% after Q4 profit jumps 42% YoY

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Shares of Lemon Tree Hotels surged 6.4% to a day's high of Rs 147.4 in Thursday's trading on BSE after the company reported a profit after tax (PAT) of Rs 83.9 crore in the March quarter of FY24, marking a 42% year-on-year (YoY) increase from Rs 59 crore during the same period a year ago.

Its earnings before interest, tax, depreciation, and amortization (EBITDA) also rose by 24% YoY to Rs 260 crore in Q4FY24. However, its EBITDA margin contracted sharply by 360 basis points (bps) to 79.5% in the March-ended quarter.


The company reported a total income of Rs 331 crore in the fourth quarter, compared to Rs 254.73 crore in the corresponding period of FY23.

The gross average room rate stood at Rs 6,605 in FY24, up from Rs 6,333 in Q3FY24. Occupancies, too, rose by 605 bps YoY to 72% in Q4FY24 from 66% in the year-ago period.


Also Read: ETMarkets AIF Talk: This Rs 300-cr fund manager unveils M.E.R.I.T strategy to pick investments for portfolioAt 10:45 am, the scrip was trading 2.7% higher on BSE. The stock has also surged nearly 50% in the past one year, while it has jumped 241% in the last three years.As per Trendlyne data, the average target price of the stock is Rs 155, which shows an upside of 9% from the current market prices. However, the consensus recommendation from 16 analysts for the stock is a 'Buy'.In technical terms, the relative strength index (RSI) of the stock is currently at 41.5. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. Additionally, the MACD is at 1.2, which is above its center line, but below the signal line.

The stock stood higher than the 50-day, 100-day, 150-day and 200-day simple moving averages (SMAs), while lower than the 5-day, 10-day, 20-day, and 30-day SMA.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

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