InnSuites Hospitality Trust (IHT) experiences a decline of 7.62% in the aftermarket. However, the last trading session closed at $5.12 with an increase of 45.87%.
First Quarter Profit
IHT reported a first-quarter profit on 28th June 2021. The company recorded a profit of $157,161 in the fiscal first quarter. It was more than $500,000 over the same time the previous year $352,857. For the fiscal first quarter of 2022, which ended on April 30, 2021, revenues were around $1.4 million. This was essentially unchanged compared to revenues of around $1.4 million for the same time the previous year. For the Fiscal First Quarter ended April 30, 2021, basic profits per share grew by about three cents to $0.01, compared to $0.04 for the comparable Fiscal Quarter ended April 30, 2020.
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IHT Q3, Clean Energy Diversification Process
IHT told about the fiscal third quarter on 24 May 2021. According to this, revenues of around $1 million were recorded which ran from August 1, 2020, to October 31, 2020. For the three months ending October 31, 2020, basic earnings per share were $0.08, compared to ($0.02) for the same period last year. The detrimental impact of the Covid-19 virus epidemic was primarily responsible for this drop. However, the Trust’s economic situation improved in Q3 of 2021 compared to Q2 of 2021.
Revenues for the fiscal 2021 third quarter rose by around $30,000 from August 1, 2020, to October 31, 2020. Basic profits per share increased by $0.06 to $0.08 for the three months ended October 31, 2020. However, there are promising signs of progress, which should continue in Q4 of Fiscal Year 2021 and beyond, as vaccinations become more widely accessible, as indicated above for Q3 compared to Q2 of this fiscal year.
IHT Fiscal First Quarter
IHT gave fiscal first-quarter updates on 13th January 2021. For the three months of February 1, 2020, to April 30, 2020, IHT recorded revenues of approximately $1.45 million. For the three months ending April 30, 2020, basic profits per share were $0.04, compared to ($0.03) for the same period last year. IHT made a $1 million diversification investment in UniGen Power, Inc. (UPI) which is developing a patented high profit potential new efficient clean energy generating invention.