Indian Hotels Company Limited (IHCL) reported strong financial performance for the second quarter (Q2) and the first half (H1) of the fiscal year 2024-25, marking the 10th consecutive quarter of growth.

For Q2, IHCL saw a 28% year-on-year (YoY) increase in revenue, reaching ₹1,890 Crore. The company’s EBITDA grew by 40% YoY, amounting to ₹565 Crore, while its EBITDA margin expanded by 2.7 percentage points, reaching 29.9%.

Profit after tax (PAT) surged by 232% to ₹555 Crore, primarily driven by the consolidation of TajSATS. Excluding the consolidation, revenue grew by 16% and PAT increased by 48%, totaling ₹247 Crore.

For the first half of FY25, IHCL reported a 16% increase in consolidated revenue, totaling ₹3,486 Crore, with EBITDA rising by 23% to ₹1,061 Crore. The EBITDA margin stood at 30.4%.

PAT for H1 saw a remarkable 106% increase, reaching ₹803 Crore, bolstered by a one-time exceptional gain of ₹307 Crore related to TajSATS’ consolidation.

IHCL attributed its strong performance to a revival in demand, with a 16.5% increase in consolidated hotel revenue in October 2024. The company forecasts continued double-digit growth for the remainder of the fiscal year.

The company’s hotel portfolio expanded to 350 properties, with 42 new hotels signed, including 12 Taj hotels. IHCL’s international expansion included properties in Bahrain and Thimphu.

The company is set to manage the iconic Claridges hotel in New Delhi starting from April 2025 and has acquired a majority stake in Tree of Life. The hospitality segment saw a 12% increase in consolidated revenue per available room (RevPAR), driven by a strong performance across all brands.

IHCL’s international properties saw an occupancy rate of 75%, up 600 basis points, contributing to a 10% growth in RevPAR.

Management fee income for the quarter rose by 15%, reaching ₹100 Crore. In terms of new business verticals, IHCL’s air and institutional catering division, TajSATS, saw a 19% growth in revenue. New business segments like Ginger, Qmin, and amã Stays & Trails experienced a collective growth of 42%. Ginger exceeded ₹150 Crore in enterprise revenue, and amã Stays & Trails expanded to 227 bungalows.

Published On - 11 Nov 2024 , 12:47 P

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