IHCL Reports The Highest PAT At RS. 354 Crore – Up By 24 %

* The Taj brand was rated by Brand Finance as the Strongest Indian brand across all sectors * EBITDA margins at 24% for 12 months of FY 2019-20 (up 406 bps) * Nine consecutive quarters of profitable growth * 12 hotels opened in FY 2019-20: Reached a milestone of 200 hotels with over 25,000 rooms across 100+ locations * Signed 29 hotels with an inventory of over 3,700 rooms for FY 2019-20 * Ginger crossed milestone of 50 operational hotels and registered a strong growth in signings with the highest number of keys signed under any single brand in India during FY 2019-20 * Company readies for post-COVID opening with new and stringent hygiene, sanitisation and social distancing protocols across its hotels titled trademark Tajness * A Commitment Restrengthened

NE BUSINESS BUREAU
MUMBAI, JUNE 13

Tata group’s hospitality arm, Indian Hotels Company Ltd (IHCL) reported a 37.75 % decline in its consolidated net profit at ₹ 76.29 crore for the March quarter, hit by the COVID-19 pandemic.

The company had posted a net profit of ₹ 122.56 crore for the corresponding period of the previous fiscal.

Its consolidated total income stood at ₹ 1,101.02 crore for the quarter under consideration as against ₹ 1,281.55 crore for the same period a year ago, a release from the company said.

For the fiscal year ended March 2020, its net profit came in at ₹363.74 crore as against ₹296.12 crore for the previous year.

Total income stood at ₹ 4,595.56 crore for the fiscal year ended March this year, against ₹4,595.38 crore a year ago.

Puneet Chhatwal, MD & CEO, Indian Hotels Company Limited (IHCL), TWITTER IMAGE

“IHCL has delivered on the promise of profitable growth across all parameters, culminating in an all-time high EBITDA and PAT. The re-imagined brandscape helped us reach a significant milestone of 200 hotels in our portfolio,” IHCL Managing Director and CEO Puneet Chhatwal said.

He added that another proud moment for the company is the recent recognition of Taj as India’s strongest brand across all industries by Brand Finance — a brand valuation consulting firm.

“This ranking is a testament to the strength of our brand and the trust reposed in us by all our stakeholders, as we ready to welcome guests in the new normal with enhanced health and safety protocols,” Chhatwal said.

IHCL signed 29 hotels in the current financial year, adding over 3,700 rooms to its portfolio. It also opened twelve hotels, one hotel a month, for FY 2019-20 and added over 1,500 rooms to its operational inventory, the hospitality major said.

The company harnessed its diverse brandscape to drive asset light growth through management contracts and 42 per cent of its portfolio is now management contracts. This was 32 per cent two years ago, it added.

IHCL has a portfolio of 200 hotels including 42 under development globally across 4 continents, 12 countries and in over 100 locations, the release added.