Indian Hotels Company (IHCL) advanced 2.55% to Rs 506.95 after the company's consolidated net profit jumped 18.09% to Rs 451.95 crore on 16.49% increase in net sales to Rs 1,963.84 crore in Q3 FY24 over Q3 FY23.
Profit before tax grew by 22.17% year on year to Rs 604.71 crore in the quarter ended 31 December 2023.
EBITDA stood at Rs 772 crore in Q3 FY24, registering a growth of 18% from Rs 655 crore in the same quarter last year. EBITDA margin improved to 38.5% in Q3 FY24 as compared to 37.6% registered in Q3 FY23.
On 9M basis, the companys consolidated net profit increased by 24.76% to Rs 841.31 crore on 16.22% rise in revenue to Rs 4,863.41 crore in 9M FY24 over 9M FY23.
Puneet Chhatwal, managing director & CEO, IHCL, said, IHCL reported an all-time high consolidated Q3 EBITDA margin of 38.5% and PAT margin of 22.6%, marking seven consecutive quarters of record financial performance. This robust performance was enabled by same store hotels clocking RevPAR premium across markets and segments, strong performance of not like for like growth and the scaling of new businesses.
IHCL continues to demonstrate industry leading growth with 28 hotels signed and 16 hotels opened this fiscal with a portfolio of 285 hotels including a pipeline of 85 hotels.
Giridhar Sanjeevi, executive vice president and chief financial officer (CFO) of IHCL said, Q3 saw a stellar performance led by the domestic market as seen in IHCLs standalone revenue of Rs 1,323 crore, a growth of 22% over the previous year and EBITDA margin of 45.4% which is a 290-basis points expansion. IHCLs consolidated results also demonstrated a strong performance with an Operating EBITDA margin of 37.3%, an expansion of 190 basis points, reflective of high revenue flow through.
On a year to date basis IHCL consolidated reported all-time high revenue of Rs 5,000 crore, an EBITDA margin of 32.7% in line with the guidance of Ahvaan 2025 and maintained healthy cash and cash equivalents of Rs 1,810 crore as on 31 December 2023.
Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service.
The scrip hit an all-time high at Rs 518.85 in todays intraday session.
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