IHCL’s Benares Hotels Limited Records 150 Percent Surge in PAT in H1 FY18

A SUBSIDIARY of The Indian Hotels Company Limited (IHCL) – The Benares Hotels Limited (BHL) reported their financials for the second quarter and half year ending September 30, 2018.

According to the report, in the first half of FY18, BHL’s EBITDA stood at INR 3.24 cr with Q2 recording EBITDA of INR 1.50 cr. The Profit After Tax (PAT) increased by 150% in H1 FY18 according to BHL, while the revenue growth was 31% up at the end of Q2 FY18.

Speaking about the report, Dr. Anant Narain Singh, Chairman, The Benares Hotels Limited (BHL) said, “The Company has delivered a remarkable performance for the second quarter as well as for the first half of the current financial year. The Gateway Hotel Ganges Varanasi has been completely renovated and I am confident that this will enhance profitability and revenues.”

BHL is a listed public limited company incorporated in 1971 and became a subsidiary of IHCL in 2011. The Company operates its hotels, viz. The Gateway Hotel Ganges and Taj Nadesar Palace in Varanasi and The Gateway Hotel, Gondia in Maharashtra.