Indian Hotels Q4 Net Profit Drops 38% to ₹76.29 crore

NEW DELHI : Tata group hospitality arm Indian Hotels Company Ltd (IHCL) on Wednesday reported a 37.75% decline in its consolidated net profit at ₹76.29 crore for the March quarter, hit by the COVID-19 pandemic.
The company had posted a net profit of ₹122.56 crore for the corresponding period of the previous fiscal, IHCL said in a filing to the BSE.

Its consolidated total income stood at ₹1,101.02 crore for the quarter under consideration as against ₹1,281.55 crore for the same period a year ago, the filing said.
For the fiscal year ended March 2020, its net profit came in at ₹363.74 crore as against ₹296.12 crore for the previous year.

Total income stood at ₹4,595.56 crore for the fiscal year ended March this year, against ₹4,595.38 crore a year ago.
“IHCL has delivered on the promise of profitable growth across all parameters, culminating in an all-time high EBITDA and PAT. The re-imagined brandscape helped us reach a significant milestone of 200 hotels in our portfolio,” IHCL managing director and CEO Puneet Chhatwal said.
He added that another proud moment for the company is the recent recognition of Taj as India’s strongest brand across all industries by Brand Finance — a brand valuation consulting firm.