Indian Hotels hits new high

about 2 years ago
No Image

Indian Hotels announced its earnings late yesterday evening and they were excellent, given the kind of travelling people all over are currently doing.

For Q4FY23, the company’s consolidated was up 73% (YoY) at Rs.1655 crore – the highest ever in its history. EBITDA came in at Rs.565 crore, up 134% while margins rose 9 bps to 34.1% - the highest in the sector. The “Taj” company ended the quarter with a 343% jump in PAT at Rs.328 crore.

The company ended the fiscal FY23 with a PAT of Rs.1003 crore v/s a loss in FY23, on an 85% jump in revenue at Rs.5949 crore. This net profit was again the highest ever.

IHCL crossed 260+ hotels in its portfolio including 36 signings at a rate of 3 hotels a month and 16 openings or a new hotel every three weeks in the year. IHCL’s vast footprint now covers 31 States and Union Territories in India. The company was also able to achieve an optimal 50:50 mix between its owned/leased and managed hotels.

The brands under IHCL portfolio includes – Taj, Selection, Ginger, Vivanta, ama (experiential escapes), Qmin (food delivery app) and TajSats, its air catering company.  

The stock reacted according to the results – hitting a new 52-week high at Rs.348.45, up 2.5% and is currently trading at Rs.343 levels.

854.3 (+17.70)

Popular Comments

No comment posted for this article.