Indian Hotels reported its Q1 results after the market close on Friday.
What Happened: The Tata Group company reported an 11.66% increase to ₹248.39 crore. In the previous year, the company had a net profit of ₹222.44 crore. Its revenue from operations gained 5.71% from ₹1466.37 crore in the previous year to ₹1550.23 crore.
The company’s EBITDA increased 8% year-on-year to ₹496 crore. EBITDA margin rose 70 basis points from the previous year to 31%. The company’s portfolio now has over 325 hotels with 16 signings and 6 openings in the quarter.
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In the regulatory filing, the company said, the new businesses vertical comprising Ginger, Qmin and amã Stays & Trails reported revenue of ₹162 crores, a growth of 37% over the previous year. The company added it outperformed the industry on domestic same-store revenue per available room with a premium of 60% against the competition.
Puneet Chhatwal, the CEO said, “Our performance was enabled by a diversified top line, with new businesses growing at 37% over the previous year and incremental revenues from the not like for like growth."
Price Action: Shares of Indian Hotels closed 0.75% down at ₹577.95.
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