Indian Hotels surges over 8% after Q1 net profit grows over 11% to ₹248 crore; check details

In its quarterly earnings report filed with the stock exchanges, Indian Hotels reported a consolidated profit after tax of ₹248 crore for the quarter ended June 2024, marking an increase of 11.7% from ₹222 crore in Q1FY24. Similarly, the company’s consolidated revenue from operations rose to ₹1,550 crore in Q1FY25, up 5.7% from ₹1,466 crore in Q1FY24.

Indian Hotels Company’s EBITDA (earnings before interest tax depreciation and amortisation) also increased to ₹496 crore for the April-June 2024 quarter, representing an 8.1% rise from ₹459 crore in Q1FY24. The EBITDA margin also improved to 31% in Q1FY25, up from 30.3% in Q1FY24.

The company also said in the filing that its new businesses vertical, which includes Ginger, Qmin, and, ama Stays and Trails, generated a revenue of ₹162 crore, marking a growth of 37% compared to the previous year. The company’s total revenue includes the receipts across brands, including six Taj hotels, Tree of Life, Ginger and three under the reimagined Gateway brand.

In Q1FY25, IHCL also opened six hotels —SeleQtions in Mahabaleshwar, Vivanta in Jamshedpur, Ginger in Nagpur and Jamshedpur, and Tree of Life resorts in Gangtok and Srinagar.

Puneet Chhatwal, managing director and CEO of Indian Hotels Company Limited, said, “IHCL consolidated reported a strong financial performance for the first quarter with an all-time high revenue of ₹1,596 crore and a healthy EBITDA margin of 31%.”

Chhatwal added, “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. Continuing the growth momentum our portfolio is now over 325 hotels with 16 signings and 6 openings in the quarter.”

Indian Hotels shares closed 7.28% higher at ₹620 apiece on the NSE.