Indian Hotels Company - Q3FY13 Results First Cut - Microsec

Indian Hotels Company announced its Q3FY13 results on 11th Feb, 2013.

The company surprised by arriving at consolidated net sales of INR1060.47 crores, which was up by 30.31% as compared to Q2FY13. The EBITDA for the quarter was INR209.99 crore, which was ~ 5times up as compared to the last quarter of FY13. The company posted a net profit of INR49.78 crore as compared to a loss of INR57.49 crore and INR33.36 crore in Q2FY13 and Q1FY13 respectively.

Hence, at the CMP of INR62, we recommend a BUY for the stock with a Target price of INR 81.

Note: Consolidated results on YoY basis are not comparable as figures for the same are not available.

Source : Equity Bulls

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