Indian Hotels Q4: Consolidated PAT came at ₹328.3 cr, check dividend here

The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, on Thursday reported a 343 per cent rise to ₹328.27 crore for the March 2023 quarter. This is against a net profit of ₹74.2 crore in the corresponding quarter last fiscal.

The revenue from operations rose by 86.4 per cent at ₹1,625.4 crore as compared to ₹872.1 crore in the year ago period.

“IHCL achieved a record setting year with a number of significant accomplishments including the highest ever full year consolidated revenue, an all-time high and industry leading EBITDA margin and PAT of over INR 1,000 crores a historic first for the company. This performance was enabled by consecutive four quarters of sustained high demand, additionally bolstered by IHCL demonstrating RevPAR leadership across its brandscape in all its key markets,” said Puneet Chhatwal, Managing Director & CEO,.

With a record signing of 36 hotels in FY 2023, IHCL portfolio now stands at 260+ hotels. It has opened 16 new hotel openings this fiscal. This included four hotels each under Taj and SeleQtions brands, three Vivanta and five Ginger branded hotels. It has also been able to achieve an optimal 50:50 mix between our owned/leased and managed hotels.

“The iconic brand Taj has reached a portfolio of 100 hotels and has more than doubled its room inventory over the past five years,” said IHCL in its regulatory filing.

Ginger hotels has reported a turnaround in FY 2022-23, led by a 50% lean luxe portfolio, the company achieved revenue of ₹307 crores, EBITDA margin of 37.4 per cent and a profit before tax of ₹48 crores.

“IHCL’s performance reflects the affection and loyalty of our guests, the continuous guidance and support from our Board and the remarkable passion and commitment of the 28,000-strong IHCL team. The management’s focus remains on value creation for all stakeholders, offering customers a unique hospitality ecosystem across segments, leading the way in engaging local communities in our value chain, pioneering new destinations in the country and delivering continued superior performance,” he added.

The board has recommended a dividend of ₹ 1 per equity share of ₹ 1 each fully paid up share, subject to the approval of the members at the forthcoming Annual General Meeting

On Thursday, the company’s scrip ended 0.029 per cent down at ₹340.75 on BSE.

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