IHG Hotels plans to double presence

HINDUSTAN UNILEVER Q4 NET PROFIT AT `2,561 CR

Mumbai, April 24: Hospitality company IHG Hotels and Resorts on Wednesday said it is planning to double its presence in India in next 5 years with 100 operating hotels.

Last year, the company signed a record 13 deals across its brands in luxury, premium and essentials categories, strengthening its footprint in Gurugram, Jim Corbett, Mumbai, Amritsar and

Goa.

Around 70 per cent of the deals were in midscale and upper midscale segments, a growth driver for the company in India, followed by the premium and luxury segments, it stated.

“We have plans to grow our portfolio in India across all brand segments,” IHG Hotels and Resorts managing director, South-west Asia, Sudeep Jain said. — PTI

Nippon Life India Asset Management Ltd on Wednesday reported its highest-ever quarterly profit after tax (PAT) at `343 crore for the March quarter, marking a 73 per cent jump from the year-ago period. The company had posted a PAT of `198 crore in the year-ago period, the company said. Total income rose to `560.57 crore during the fourth quarter of FY24 from `388.03 crore in the year-ago period. the company’s board has recommended a final dividend of `11 per equity share for the financial year ended March 31, 2024.

FMCG major Hindustan Unilever (HUL) on Wednesday reported a 1.53 per cent decline in consolidated net profit to `2,561 crore for the fourth quarter of FY24 on account of deflation due to softening of commodity prices. The company had posted a net profit of `2,601 crore in the yearago period, according to a regulatory filing from HUL.