The Indian Hotels Company Limited (IHCL) reported its consolidated financials for the third quarter ending December 31st, 2021.
- Revenues up by 85% toRs. 1134 crore in Q3 FY 2021-22 vs Q3 FY 2020-21
- EBITDA improves by 805% to Rs. 344 crore in Q3 FY 2021-22 vs Q3 FY 2020-21 resulting in 30.4% EBITDA Margin for the quarter
- Reports PAT of Rs. 76 crore in Q3 FY 2021-22
- Signs five new hotels including two SeleQtions hotels in Jaisalmer and Bhubaneswar, and three Ginger hotels in Coimbatore, Dehradun and Goregaon
- Opened three new hotels across brands including:
- -Taj Lakefront, Bhopal at a landmark location in the heart of the city
- -Strengthened presence in the North East with the launch of Vivanta Sikkim in Pakyong
- -Expanded presence in East India with the launch of Raajkutir,an IHCL SeleQtions hotel, in Kolkata
- The amã Stays & Trails homestay portfolio grew to 72 bungalows across the country
- IHCL achieves milestone of 50 years of managing the iconic Taj Lake Palace, Udaipur
- Qmin, IHCL’s culinary and food delivery platform, expanded its presence with 11 Qmin outlets in Bengaluru and two Qmin gourmet stores in New Delhi
- Received global awards across categories at the Worldwide Hospitality Awards 2021
Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, said, “The momentum of quarter-on-quarter growth has continued in the third quarter led by the upswing in domestic demand and recovery in international markets. IHCL reported a Profit After Tax of Rs. 76 crore in Q3 for the first time in this fiscal. With an EBITDA Margin of 30.4% in Q3, the company’s performance is closely reflective of pre-COVID levels. We will continue to strengthen our portfolio and growing the new businesses while maintaining our asset light strategy.”
Despite the ongoing challenges of the pandemic, IHCL continues on its path of business expansion and consolidation with the acquisition of the balance shares of Roots Corporation Limited.
Mr. Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL, said, “IHCL has maintained a strong performance with a significant increase of 85% in revenue this quarter compared to corresponding quarter in the previous year. We have also deployed the recent equity raised through the rights issue to retire debt as per the objects of the issue, thereby strengthening IHCL’s objective of being a zero-debt company in the long term.”
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel – The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 232 hotels including 61 under development globally across 4 continents, 12 countries and in over 100 locations. IHCL is India’s largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.
