IHCL Q4 profit jumps 55 pc to Rs 123 cr

Tata Group firm Indian Hotels Company Tuesday reported 54.55 per cent rise in consolidated profit after tax (PAT) at Rs 122.56 crore for the fourth quarter ended March 31, 2019.

The company posted a PAT of Rs 79.30 crore in the year-ago period, Indian Hotels Company Ltd (IHCL) said in a filing to BSE.

Revenue during the reported quarter stood at Rs 1,244.32 crore. It was Rs 1,143.46 crore in the year-ago period.

The PAT in the full 2018-19 fiscal stood at Rs 296.12 crore as against Rs 103.52 crore in the previous year.

Revenue from operations during last fiscal stood at Rs 4,512 crore. It was Rs 4,103.55 crore in 2017-18.

IHCL is on track in the execution of its strategy, 'Aspiration 2022', MD and CEO Puneet Chhatwal said.

The company's reimagined brandscape gave it the opportunity to sign 22 hotels with an inventory of over 3,200 rooms across brands in India and key international markets like London, Makkah, Kathmandu and Dubai, he said.

"We opened five hotels in this fiscal (2018-19) and are well poised to open one hotel per month in light of a healthy pipeline and confirmed momentum of signing new contracts," Chhatwal said.

The company's board has recommended a dividend of Re 0.50 per share, it said.

IHCL operates 179 hotels including 30 under development globally across 4 continents, 12 countries and in over 80 locations.

Shares of IHCL closed at Rs 153.95 per scrip on BSE, up 0.95 per cent from the previous close.