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Indian Hotels Q4 Results: Cons PAT jumps 27% YoY to Rs 418 crore

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The Indian Hotels Company Limited (IHCL) on Wednesday reported a consolidated net profit of Rs 418 crore in the March-ended quarter, which was up by over 27% from Rs 339 crore reported by the company in the year-ago period. However, the profit after tax (PAT) was down by 8% on a sequential basis from Rs 477 crore posted in Q3FY24.

The revenue from operations stood at Rs 1,951 crore for the reported quarter, higher by 18% from Rs 1,625 crore posted in Q4FY23. On a quarter-on-quarter (QoQ) basis, it was down by 3% over Rs 1,964 crore reported in the October-December quarter.

For the full financial year, the net profit stood at Rs 1,259 crore up 26% from Rs 1,053 crore in FY23. Meanwhile, revenue from operations for the full year stood at Rs 6,952 crore against Rs 5,810 crore in FY23.

The QoQ decline in the net profit could be attributed to higher operating and general expenses which were reported at Rs 638 crore in Q4FY24 VS 610 crore in Q3FY24, witnessing an uptick of nearly 5%.

IHCL recommended a dividend of Rs 1.75 per equity share.

The Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for the reported quarter stood at Rs 706 crore, a 25% YoY jump. For the full year ended March 31, 2024, the EBITDA stood at Rs 2,340 crore, a gain of 20% on a YoY basis.Commenting on the full-year performance, Puneet Chhatwal, Managing Director & CEO of IHCL, said that the company achieved its key goals under Ahvaan 2025 well ahead of time with a full-year consolidated EBITDA margin of 33.7%, a portfolio of 300+ hotels and a cash position of Rs 2,206 crore.
Q4 FY24 marked eight consecutive quarters of record financial performance driven by double-digit revenue growth in same-store hotels, Chhatwal said, adding that with 53 signings in FY2024, IHCL achieved a portfolio of 310 hotels.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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