Indian Hotels Co Ltd reported a net profit of ₹328.3 crore in Q4 FY23, rising over 4.4 times the year-ago figure, on a resurgence in demand in the hospitality sector and a substantial rise in revenue per available room across all its brands.
Revenue from operations came in at ₹1,625.4 crore, close to 2 times its year-ago number. EBITDA, too, surged to ₹535.5 crore from ₹159 crore a year ago, and the EBITDA margin expanded to 32.94 per cent from 18.23 per cent a year ago.
For the full year FY23, the company reported a net profit of ₹1,002.6 crore compared with a loss a year ago while the revenue came in at ₹5,810 crore (₹3,056.2 crore). Commenting on the performance, MD & CEO Puneet Chhatwal said the bottomline crossing the ₹1,000-crore mark was a historic first for the company.
Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, said, “Robust demand across markets and segments has led to all group companies reporting a full year positive PAT in domestic operations.”
During the year, the company added 36 hotels to its portfolio, ending the year with over 260 hotels. Its portfolio is now equally split between the properties that it owns and those that it leases. Indian Hotels operates hotels under the iconic Taj brand, Vivanta, SeleQtions and the budget Ginger brand.