IHCL's Strategic Growth Amid Financial Fluctuations

Indian Hotels Company Ltd reported a significant 45% decline in net profit for Q2, attributed to an exceptional gain recorded last year. Despite this, IHCL's revenue increased by 12% year-on-year, driven by its expanding hotel and catering operations. The company continues its strategic development projects.

Indian Hotels Company Ltd (IHCL), a major player in the hospitality industry, announced a 45% drop in net profit for the second quarter, concluding at Rs 318.26 crore. This decline is mainly due to the absence of last year's exceptional gain of Rs 307 crore from the TajSATS subsidiarisation.

Despite the profit dip, IHCL achieved a notable 12% year-on-year revenue growth, reaching Rs 2,040.89 crore in the July-September quarter. Total expenses also saw a rise, reflecting the company's continued investment in operations and expansion of its service sectors.

Under the leadership of MD & CEO Puneet Chhatwal, IHCL has been aggressively expanding, with 46 new hotel signings and the opening of 26 new hotels. The company is optimistic about the upcoming quarter, citing strong industry fundamentals and recovering corporate travel.

(With inputs from agencies.)