IHCL Q2 net profit zooms more than 3-fold to Rs 582.71 cr

New Delhi: Indian Hotels Company Ltd on Thursday reported a more than three-fold rise in its consolidated net profit to Rs 582.71 crore for the second quarter of 2024-25, helped by exceptional gains from the consolidation of its air and institutional catering business segment TajSATS.

The country's largest hospitality firm had registered a net profit of Rs 178.97 crore in the year-ago period, according to a regulatory filing.

Its revenue from operations increased to Rs 1,826.12 crore in the June-September quarter from Rs 1,433.20 crore in the corresponding quarter of the last financial year.

However, during the period under review, IHCL's expenses also rose to Rs 1,502.01 crore, as against Rs 1,248.68 crore a year ago.

Puneet Chhatwal, Managing Director & CEO, IHCL, said, "The second quarter witnessed a strong revival of demand resulting in overall revenue growth of 28 per cent and 16 per cent growth for the hotel segment, marking the best ever Q2 Consolidated EBITDA margin at 29.9 per cent.

"For FY2025, we continue to maintain guidance of double-digit revenue growth led by the sustained growth in new businesses, not like for like growth and healthy same-store performance. This is reflected in a strong 16.5 per cent growth in consolidated hotel segment revenue in October which is set to accelerate in the remaining months of Q3".

He further shared that IHCL will take over the management of landmark hotel The Claridges, New Delhi in April 2025 under a hotel operating agreement. In addition, IHCL has entered into definitive agreements to acquire majority share-holding in Tree of Life brand holding company, expanding its brandscape with a boutique leisure offering.