04 Jan , 2022 By : monika singh
NEW DELHI – Shares of Lemon Tree Hotels NSE 4.46 % skyrocketed 10 per cent in early trade on Tuesday after Goldman Sachs (Singapore) Pte-ODI acquired 30,02,214 equity shares in the company at Rs 46.6 per share via a block deal on the BSE. Zaaba Pan Asia Master Fund was the seller.
Lemon Tree’s scrip zoomed to a high of Rs 53.10 against Rs 48.20 at the previous close on the NSE. The counter gave up some gains and was last up 5.6 per ce ..
In July-September, Lemon Tree Hotels reported an 84.33 per cent rise in total revenues on a consolidated basis at Rs 98.82 crore.
The revenues registered a rise of about 123.17 per cent on a sequential basis compared to Rs 44.28 crore revenues in April-June of 2021.
Lemon Tree Hotels operates in the budget hotels segment and is largely linked to budget travel in the country.
The consolidated net loss for the September quarter narrowed sharply on a year-on-year basis to Rs 20.82 crore compared to a net loss of Rs 37.13 crore over the same period a year ago, reports said.
In April-June, the net loss was still higher at Rs 40.12 crore.
The company reported a total income of Rs.143.0982 crores in April-September 2021 against Rs 97.3927 crores over the same period a year ago.
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