Tata Sons Ihcl

IHCL Q2 results: Net profit zooms more than 3-fold to Rs 582.71 cr

Indian Hotels Company Ltd on Thursday reported a more than three-fold rise in its consolidated net profit to Rs 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 Rs 178.97 crore in the year-ago period, according to a regulatory filing. Its revenue from operations increased to Rs 1,826.12 crore in the June-September quarter from Rs 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 Rs 1,502.01 crore, as against Rs 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 per cent and 16 per cent growth for the hotel segment, marking the best ever Q2 Consolidated EBITDA margin at 29.9 per ...

Relief to Tata's IHCL; Delhi HC bars 'Taj Iconic' from using 'Taj' name

Delhi High Court has ordered the MD of Taj Iconic to pay Rs 10 lakh in damages and Rs 5 lakh in costs to IHCL, in a trademark lawsuit filed by the Tata Group

IHCL aims to strengthen position in spiritual tourism, to add more hotels

Tata group hospitality firm Indian Hotels Company Ltd is looking to strengthen its leadership position in spiritual tourism, developing properties in noted locations in India with spirituality expected to play a more significant role globally, according to a top company official. The company currently has 66 hotels either operational or under development at spiritual destinations, including the latest hotspot Ayodhya, and will continue to grow the portfolio. "I think spiritual destination and spirituality is going to play a more significant role across the globe. Not just for us, but generally for the world population, a very important role and I'm glad to say that we are at the forefront of it," company Managing Director & CEO Puneet Chhatwal told PTI. On why the company sees a huge opportunity in the segment, Chhatwal said, "spiritual destinations are a safer bet because people in good or in bad times go to get the blessings of the Lord, whether it's any kind of good, bad, sad ..

IHCL Q3 results: Net profit rises 18% to Rs 452 crore, revenue up 14.1%

The hospitality giant reported a 14.1 per cent uptick in revenue to Rs 1,963.24 crore from Rs 1,685.80 crore in the year-ago period

In India, just asset-light model doesn't work: IHCL's Puneet Chhatwal

A combination of asset-light and asset-heavy is the right formula, driving absolute returns in its owned portfolio where the operating leverage is currently higher, he said

Tata Group awards generous pay hikes of 16-60% to its top officials

This comes at a time when the board of Tata Sons has acknowledged the group's highest growth in its history

Best yet to come for hospitality sector: IHCL CEO Puneet Chhatwal

The Tata Group's hospitality arm reported a record quarterly performance for the June quarter as all-round growth helped the firm surpass the 2019-20 operational performance

Indian Hotels to stay the course on asset monetisation for growth

Hospitality chain says its needs 'see what we need and what we don't' as it goes on monetisation plan.

Maharashtra hotels reopen, but no room for error amid Covid-19 crisis

Staycations, discounts on offer to lure guests back; hotels to follow mandatory norms such as masks for all, social distancing

Covid-19 crisis: Move to turn hotels into hospitals raises temperature

The Delhi government's recent order to attach hotels to serve as extensions of hospitals to provide for the shortfall of beds and medical facilities for Covid-19 patients has baffled many hoteliers

Top headlines: 1st invIT by govt entity set to open, SC on AGR dues, & more

From Clix Capital set to buy majority stake in Lakhsmi Vilas Bank, RBI proposing 10-yr term for bank promoter-CEOs, here are top headlines on Friday morning

Tata group's IHCL to foray into home delivery of food and beverages

The Tata group's hospitality arm posted an over 24 percent jump in net profit for the year ended March at Rs 363.74 crore, as compared to Rs 296.12 crore in the previous fiscal.

CG Hospitality joins IHCL to open Taj Jumeirah Lakes Towers in Dubai

As per the agreement, IHCL will manage and operate the property, CG Hospitality said

Tata Sons to buy up to 6.64% shares in Indian Hotel Companies

The shares are proposed to be acquired at or around the prevailing price on date of proposed acquisition that is on or before March1 13, 2018