Advani Hotels zooms after Q4 net surges 75%

Net profit for March 2016 quarter zoomed 75% to Rs 4.2 crore

Shares of Advani Hotels & Resorts were locked in 20% upper circuit at Rs 57.65 on the Bombay Stock Exchange after the company reported strong earnings for the quarter ended March 2016.

Net profit for the quarter ended March 31, 2016 surged 75% to Rs 4.2 crore compared with Rs 2.4 crore in the corresponding quarter last fiscal.

Total income for the quarter under review increased 19% to Rs 16.3 crore compared with Rs 13.7 crore in the same quarter ended March 31, 2015.

The stock opened at Rs 54 and touched a high of Rs 57.65. At 2pm, over 192,000 shares were traded on both the stock exchanges.