Benares Hotels Announces Dividend Amid Strong Financial Performance

Benares Hotels Limited has recommended a final dividend of 25 rupees per equity share for the financial year ending March 2024. The announcement reflects the company's commitment to rewarding shareholders and maintaining financial stability.  

The dividend proposal marks an increase from the previous year's payout of 20 rupees per share, highlighting the company's improved earnings and profitability. Benares Hotels reported a 52.6 percent jump in profit after tax for the fourth quarter, reaching 11.6 crore rupees compared to 7.6 crore rupees in the same period last year.  

The company also recorded a 30.71 percent rise in revenue, with total earnings for the quarter standing at 36.6 crore rupees. Analysts attribute the strong performance to higher occupancy rates, improved average room pricing, and strategic expansion efforts.  

Investors are closely monitoring the company's growth trajectory, particularly its ongoing construction of a new tower wing at Taj Ganges, which is expected to add 100 additional rooms by October 2025.  

Key Highlights of Benares Hotels' Dividend Announcement  

- Recommended a final dividend of 25 rupees per equity share, up from 20 rupees last year.  
- Fourth-quarter profit after tax rose 52.6 percent to 11.6 crore rupees.  
- Revenue for the quarter increased by 30.71 percent to 36.6 crore rupees.  
- Strong performance driven by higher occupancy rates and improved pricing.  
- Expansion plans include a new tower wing at Taj Ganges, set to open in October 2025.  

Sources: Goodreturns, Benares Hotels Financial Reports, Economic Times, Business Standard, MarketScreener