Byke Hospitality plummets post poor Q2 results

Shares of The Byke Hospitality (TBH) slipped over 4 per cent intraday on Wednesday after posting weak Q2FY18 numbers.

Revenue of the company decreased 45 per cent at Rs. 29.4 crore in the September quarter. EBITDA of the company was down 6 per cent at Rs. 11 crore. The company reported a 10 per cent decline in net profit at Rs 5.2 crore in Q2FY18 as against Rs. 5.76 crore in the same period last year.

The company also announced acquisition of three hotels: The Byke Nature Villas (35 rooms) in Shimla; The Byke Puja Samudra (42 rooms) in Kovalam; and The Byke Brightlands Resort (63 rooms) in Matheran.

The Byke Hospitality Limited is engaged in the operations of hotels and resorts. The company's segments include Owned & Leased and Room Chartering.

At 12:58 hours, TBH was trading at Rs. 166.25 per share, down Rs. 5.05, or 2.95 per cent on the NSE. The scrip opened at Rs 173.55 and touched a high and low of Rs 173.55 and 164.85, respectively. The stock attracted a traded volume of 78,692 shares on NSE on Wednesday.