Profit before tax increased 11.75% year on year (YoY) to Rs 328.49 crore in the quarter ended March 2024.
EBITDA stood at Rs 496 crore in June 2024 quarter, registering the growth of 8% as compared with Rs 459 crore in Q1 FY24. EBITDA margin improved to 31% in Q1 FY25 as against 30.3% in Q1 FY24.
Puneet Chhatwal, managing director & CEO, IHCL, said, “IHCL consolidated reported a strong financial performance for the first quarter with an all -time high revenue of Rs 1,596 crores and a healthy EBITDA margin of 31%. Our performance was enabled by a diversified top line, with new businesses growing at 37% over the previous year and incremental revenues from the not like for like growth.
Continuing the growth momentum our portfolio is now over 325 hotels with 16 signings and 6 openings in the quarter. With demand continuing to outpace supply and favourable structural tailwinds, the sector is set to clock strong revenue growth in the quarters ahead.”
Ankur Dalwani, executive vice president and chief financial officer, IHCL said, “IHCL consolidated grew operating revenue by 6% and RevPAR outperformed the industry with 60% premium on a same store basis for domestic hotels. On the back of strong cost focus, IHCL’s operating EBITDA margins expanded by 210 and 100 basis points on Standalone and Consolidated basis respectively leading to a Consolidated PAT growth of 12%. IHCL’s healthy operating cash flows, resulted in a gross consolidated cash balance of INR 2,091 crores as on 30th June 2024 with free cash flows generated in the quarter at 3x of Q1 FY24.
In line with our strategy of simplification, IHCL has secured approval to execute an amendment to its Shareholder Agreement with our partner, SATS Singapore, enabling a consolidation of Taj SATS results on a line-by-line basis as a subsidiary as opposed to equity accounting consolidation.”
Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service.