Waterways Leisure Tourism Q1 Profit Rises Sequentially; Revenue Grows 23% QoQ, Stock Slides After Results

Following the earnings announcement, investor sentiment remained weak. At around 9:40 AM, the company’s shares were trading at ₹847.80 on the NSE, down 7.10% or ₹64.80. On the BSE, the stock was quoted at ₹850, declining 6.76% or ₹61.65.

Meanwhile, Waterways Leisure Tourism recently announced that its Board of Directors has approved a 1:10 stock split, subject to shareholder and regulatory approvals. Under the proposal, every one equity share with a face value of ₹10 will be subdivided into ten equity shares with a face value of ₹1 each. The company expects the process to be completed within approximately three months after obtaining the necessary approvals.

The company also informed the exchanges that, prior to the stock split, its authorised share capital stands at ₹100.05 crore, comprising 10,00,50,000 equity shares with a face value of ₹10 each.

The proposed stock split is aimed at improving liquidity and making the stock more accessible to a wider base of retail investors, while the market will continue to monitor the company’s earnings trajectory and growth in the cruise tourism business.