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2 min read | Updated on November 08, 2024, 10:41 IST
SUMMARY
Indian Hotels Company's revenue from operations increased to ₹1,826.12 crore in the June-September quarter from ₹1,433.20 crore in the corresponding quarter of the last financial year.
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IHCL's expenses also rose to ₹1,502.01 crore, as against ₹1,248.68 crore a year ago.
The company on Thursday reported a more than three-fold rise in its consolidated net profit to ₹582.71 crore for the second quarter of 2024-25, helped by exceptional gains from the consolidation of its air and institutional catering business segment, TajSATS.
The country's largest hospitality firm had registered a net profit of ₹178.97 crore in the year-ago period.
Its revenue from operations increased to ₹1,826.12 crore in the June-September quarter from ₹1,433.20 crore in the corresponding quarter of the last financial year.
However, during the period under review, IHCL's expenses also rose to ₹1,502.01 crore, as against ₹1,248.68 crore a year ago.
Puneet Chhatwal, Managing Director & CEO, IHCL, said, "The second quarter witnessed a strong revival of demand resulting in overall revenue growth of 28% and 16% growth for the hotel segment, marking the best ever Q2 Consolidated EBITDA margin at 29.9%.
“IHCL has achieved a record signing of 42 hotels resulting in an industry leading portfolio of 350 hotels and met its market guidance of opening two hotels a month with 14 new hotel openings till date. IHCL will take over the management of landmark hotel The Claridges, New Delhi in April 2025 under a hotel operating agreement," Chhatwal added.
In addition, IHCL has entered into definitive agreements to acquire majority shareholding in Tree of Life brand holding company, expanding its brandscape with a boutique leisure offering.
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Indian Hotel Company opened its first hotel, The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 350 hotels including 118 under development globally across 4 continents, 13 countries, and over 130 locations.
The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalisation.
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