India Tourism Development Shares Locked In Lower Circuit As Q3 Profit Falls

Shares of India Tourism Development Corp. were locked in 10% lower circuit on Monday after its net profit declined in the third quarter of fiscal 2024.

The company's net profit fell 20.79% year-on-year to Rs 17.9 crore in the quarter ended Dec. 31, according to an exchange filing.

• Revenue up 14.3% at Rs 134.9 crore.

• Ebitda down 3.25% at Rs 22.6 crore.

• Margin contracts 304 bps to 16.77%.

• Net profit down 20.79% at Rs 17.9 crore.

Shares of India Tourism Development Corp. fell as much as 10% to 698.55 apiece, the lowest level since Feb. 1. They were locked in a lower circuit as of 10:21 a.m., compared to a 0.50% decline in the NSE Nifty 50.

The stock has risen 104.58% in the past 12 months. Total traded volume so far in the day stood at 1.1 times its 30-day average. The relative strength index was at 55.