IHCL posts Q4 net up 70 pc at Rs 79 cr

Indian Hotels Company Ltd (IHCL), which runs the Taj hotel chain, today reported an increase of 70.42 per cent in its consolidated net profit at Rs 79.30 crore for the fourth quarter ended March 2018.

The company had posted a net profit of Rs 46.53 crore in the January-March period a year-ago, IHCL said in a regulatory filing.

Its total income during the quarter under review was up 8.86 per cent to Rs 1,164.02 crore as against Rs 1,069.23 crore in the corresponding quarter of the previous fiscal.

IHCL's total expenses stood at Rs 1,035.94 crore.

For the entire 2017-18, IHCL's consolidated net profit was at Rs 103.52 crore, compared to a net loss of Rs 45.60 crore in 2016-17.

Its total consolidated income stood at Rs 4,165.28 crore as against Rs 4,075.51 crore in 2016-17, up 2.20 per cent.

IHCL MD and CEO Puneet Chhatwal said: "We delivered a stellar performance on improved profitability and growth in FY18. With a sharpened brandscape and continuous focus on growth, we are confident of consolidating our position of being the most iconic and profitable hospitality company in South Asia".

Meanwhile, in a separate filing, IHCL said that its board today has recommended a dividend of Rs 0.40 per equity share of Re 1 each fully paid up of the company.

Shares of Indian Hotels Company today settled at Rs 137.10 apiece on BSE.