Indian Hotels Co Q3 net profit jumps 51%

NEW DELHI: Tata Group hospitality firm Indian Hotels Company on Tuesday reported a 50.99 per cent rise in its consolidated net profit to Rs 170.03 crore for the quarter ended December 31. The company had posted a net profit of Rs 112.61 crore for the corresponding period previous fiscal, Indian Hotels Company Ltd (IHCL) said in a BSE filing. Consolidated revenue from operations stood at Rs 1,323.45 crore for the quarter under consideration as against Rs 1,197.26 crore for the same period a year ago. Commenting on the results, IHCL, MD and CEO, Puneet Chhatwal said, “The company delivered a strong performance in the third quarter of this current fiscal. We saw double digit growth in revenues, robust increase in EBITDA margins of 150 bps and a PAT growth of 50 per cent.” IHCL currently operates 178 hotels, including 30 under development globally across four continents, 12 countries and in over 80 locations.