Indian Hotels Company Ltd delivers a Q3FY18 strong performance
Posted on: 13/Feb/2018 12:16:17 PM
Indian Hotels Company Ltd, a leading hospitality company in South Asia reported its Consolidated and Standalone financials for the third quarter ending, December 31, 2017.
CONSOLIDATED FINANCIAL RESULTS FOR QUARTER ENDING DECEMBER 31, 2017
� Revenue at Rs 1,217 crore + 6% Y-o-Y
� EBITDA at Rs 300 crore + 7% Y-o-Y
� EBITDA margins of 24.68%, an expansion of 0.20% Y-o-Y
� PAT at Rs 108 crore + 16% Y-o-Y
Commenting on Q3 performance, Mr.PuneetChhatwal, MD and CEO of IHCL said, �For the third quarter our company demonstrated a good performance through enhanced revenues and cost optimization measures. During the year we have added and upgraded an inventory of over 1,300 rooms including our flagship hotelTajMahal Palace in line with our efforts to consolidate our positioning of being an iconic and profitable hospitality company.�
Mr.Chhatwal added, �The Industry is entering the strongest upcycle where demand is outpacing supply of rooms. We look forward to benefiting from this growth given our strong network of hotels in India and key gateway cities of the world.�
Mr.GiridharSanjeevi, CFO said: �As a consequence of balance sheet management initiatives combined with the recent successful rights issue, our debt to equity ratio of the company has reduced to 0.47 and it remains our focus to support growth while containing our leverage ratios.�
KEY HIGHLIGHTS
During the year, the Company opened six hotels (443 keys) under Ginger, the fastest growing brand in the budget lodging segment. These hotels are in some of India�s key markets like Mumbai, Gurgaon, Lucknow and Gujarat.
Taj Exotica Resort & Spa, Havelock, Andamans, a luxury resort offering, opens in February 2018. Andamans is poised to be one of the top destinations to travel to in 2018, with its picturesque and idyllic virgin beaches. With the opening of this resort, IHCL�s position, as a pioneer in developing India�s tourism and having the largest network of leisure hotels gets further strengthened.
Renovation of several of our landmark hotels including our iconic flagship hotel TajMahal Palace, Mumbai, Taj Lands� End, Mumbai, Taj Bengal Kolkata, Taj Exotica Resort & Spa, Goa and Taj Fort Aguada Resort & Spa, Goa has been completed. This has delivered world class products, augmented in-room features, refreshed and vibrant culinary destinations.
