Indian Hotels Co. (IHCL) rallied 4.11% to Rs 245.55 after the company reported a consolidated net profit of Rs 57.93 crore in Q4 FY22 as against net loss of Rs 116.55 crore in Q4 FY21.
Consolidated net sales surged 41.8% to Rs 872.08 crore in Q4 March 2022 over Q4 March 2021. Pre-tax gains stood at Rs 77.08 crore in Q4 March 2022 as against a pre-tax loss of Rs 102.33 crore in Q4 March 2021.
The total expenses increased by 18.56% to Rs 894.16 crore in Q4 March 2022 as compared to Rs 754.15 crore in Q4 March 2021. On a yearly basis, the company reported a consolidated net loss of Rs 264.97 crore in FY22 as compared to a net loss of Rs 795.63 crore in FY21. Net sales surged 94.02% to Rs 3,056.22 crore in FY 2022 over Rs 1,575.16 crore in FY 2021.
During the quarter, IHCL has raised Rs 4,000 crore, in which Rs 2,000 crore was by way of rights issue and an additional Rs 2,000 crore through QIP. Roots Corporation (RCL) which operates the Ginger brand, is now IHCL's wholly owned subsidiary. The company recorded the highest number of new hotel signings in India for the second consecutive year, totaling 19 new hotels. Meanwhile, IHCL signed five new hotels in the last quarter including two SeleQtions hotels in Manali and Udaipur, two Vivanta hotels in Nashik and Thane and a Ginger hotel in Agra.
It also opened five new hotels in Q4 FY 2021-22 across brands including Taj Exotica Resort & Spa, The Palm, Dubai; Raajkutir, Kolkata - IHCL SeleQtions; Vivanta Turbhe; Ginger Greater Noida and Ginger Kochi. The amStays & Trails homestay portfolio grew to over 80 bungalows across the country. Qmin, IHCL's culinary and food delivery platform, expanded to over 20 locations with 15 outlets and multiple food trucks across the country.
For the year ending as on 31 March 2022, the board of directors have recommended an equity dividend of 40% amounting to Rs 0.40 per share.
Commenting on the fiscal performance, Puneet Chhatwal, the managing director (MD) and chief executive officer (CEO) of IHCL, said, IHCL reported a 192% increase in EBITDA in the fourth quarter as compared to the same quarter last year. Despite the third wave's impact in January 2022, the company posted its highest ever EBITDA margin of 25.3%. Business outlook is positive with April and May trending ahead of 2019. Our industry leading pipeline along with scaling up of high margin new business like Ginger, amStays & Trails and Qmin will provide further impetus.
The Indian Hotels Company (IHCL) and its subsidiaries bring together a group of hospitality brands and businesses, which include Taj, SeleQtions, Vivanta, and Ginger. IHCL has a portfolio of 221 hotels including 53 under development globally across 4 continents, 12 countries and in over 100 locations.
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