Indian Hotels Co Ltd reported a 29 percent year-on-year rise in consolidated net profit for the quarter ended December 2024. Net profit climbed to Rs 582.32 crore in the third quarter against the net profit of Rs 451.95 crore in the December 2023 quarter.

The Tata Group stock closed 0.26% higher at Rs 813.80 in Friday's trade against the previous close of Rs 811.70.
Earnings were announced after market hours today.

Consolidated revenue for Q3 rose 29% to Rs 2,592 crore from Rs 2,003 crore in the same period last year. EBITDA rose 32% to Rs 1020 crore in Q3 while the EBITDA margin climbed 0.8 percentage points to 39.4 percent.

The company opened 8 new hotels in Q3, taking the total operating hotels to 237 across brands with a Taj in Puri and Cochin International Airport, SeleQtions in Thimpu, Goa and Kumbhalgarh, a Tree of Life resort in Bandhavgarh and 2 Ginger hotels in Diu and Goa.

Puneet Chhatwal, Managing Director & CEO, IHCL, said, "Q3 marks eleven consecutive quarters of record performance with the hotel segment reporting a strong revenue growth of 16% resulting in EBITDA margin of 40.9%. The revenue performance was driven by 40% increase in New Businesses, not like for like growth and double-digit growth in same store hotels led by 20% growth in the US portfolio. With the consolidation of air and institutional catering business, Revenue and PAT grew by 29% at Rs 2,592 crores and Rs 582 crores respectively. In Q4 and the subsequent quarters of the next financial year, the sector will continue to witness demand buoyancy on account of large-scale regional events, weddings and sustained transient travel."