Indian Hotels Company posted its results for the quarter ended March in the after-market hours of Wednesday.
What Happened: In the March quarter, the parent of the Taj Group of hotels, reported a 27% increase in net profit at ₹417.76 compared to the year-ago period’s ₹328.27 crore.
The hospitality giant posted a 17.2% jump in revenue, reaching ₹1,905.34 crore compared to the ₹1,625.43 crore in the corresponding period last year.
EBITDA for the quarter came in at ₹706 crore, up 25% from the ₹565 crore posted in the same quarter last year. EBITDA margin was at 36.2%. As of March 31, 2024, the company has total 218 operational properties across various brands. 92 more in the pipeline, the company said.
“Looking ahead at FY2025, IHCL will continue to deliver double digit revenue growth with new
businesses at 30%, and opening of 25 hotels,” said Puneet Chhatwal, CEO, Indian Hotels Company.
The company’s board also recommended a ₹1.75 dividend per share for the year ending March 2024.
Price Action: Indian Hotels Company’s share price was up 0.94% to close at ₹610 on Wednesday.
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