In Short:
Indian Hotels Company Ltd (IHCL) saw a 12% increase in net profit in Q1 FY25, reaching ₹248 crore. Revenue rose by 5% to ₹1,596 crore and EBITDA increased by 8% to ₹496 crore. The company’s MD Puneet Chhatwal attributed the growth to diversified top line and new businesses expanding by 37%. IHCL signed 16 new properties and opened six hotels, with strong revenue growth expected in the future.
Indian Hotels Company Ltd (IHCL) sees 12% growth in Q1 FY25
Guess what, folks? Indian Hotels Company Ltd (IHCL), the powerhouse behind Taj hotels, just announced a 12% growth in consolidated net profit for Q1 FY25 compared to the previous year. That’s some exciting news, right?
Financial Results
Their net profit for the quarter reached ₹248 crore, up from ₹222 crore in the same period last year. Revenue also saw a 5% increase year on year, reaching ₹1,596 crore. And let’s not forget about the earning before interest, tax, depreciation, and amortization, which went up by 8% to ₹496 crore.
What the Big Shots Say
Puneet Chhatwal, the Managing Director and CEO of IHCL, couldn’t contain his enthusiasm as he credited the company’s performance to a diverse range of businesses, with new ventures growing by a whopping 37% compared to the previous year.
Anticipating Strong Growth Ahead
Chhatwal is optimistic about the future, predicting strong revenue growth in the coming quarters due to high demand and favorable industry trends. In fact, IHCL added 16 new properties and opened six hotels in the last quarter alone, expanding their total portfolio to 325 hotels. Impressive, right?
Operational Excellence
Ankur Dalwani, the Executive Vice-President and Chief Financial Officer of IHCL, highlighted the company’s 6% growth in consolidated operating revenue. Additionally, their revenue per available room (RevPAR) outperformed the competition, showing a remarkable 60% premium on a same-store basis for domestic hotels.
Strategic Moves
And here’s an interesting development – IHCL is streamlining its operations by consolidating the accounts of its in-flight catering arm, Taj SATS. This change, moving from equity accounting to a subsidiary setup, came after revising the shareholder agreement with their partner, SATS Singapore. Talk about strategic maneuvers!
So, there you have it – IHCL is not just about luxurious stays at Taj hotels; they’re also making waves in the corporate world with their impressive growth and strategic decisions. Keep an eye on these trendsetters, folks!
