IHCL Delivers Q2 & H1 FY18-19 Financials In line with Five Year Business Strategy Aspiration 2022
THE INDIAN Hotels Company Limited (IHCL), deemed to be South Asia’s largest hospitality company in their detailed consolidated and standalone financials report for the Q2 and H1 ending September 30, 2018, witnessed growth of 14% in Sales growth compared to the corresponding quarter last year, while the PAT stood at 53 Cr. for Q2 FY18-19.
The first half of FY18 saw a surge of 45% in Operating EBITDA, while PAT growth recorded during this period was 93 Cr.
In line with the five-year business strategy, Aspiration 2022, IHCL continued its growth trajectory and signed 15 new hotels across brands in this year, said Puneet Chhatwal, MD & CEO, IHCL. With the addition of these properties, the native hotel company has added a total room inventory of 1825 rooms, to its existing portfolio.
Speaking about the report, Chhatwal, said, “It has been a momentous year for IHCL as it retains the iconic Taj Mahal, New Delhi and renews its long-term agreement for the landmark hotel, Taj Lake Palace, Udaipur. The Company has shown a marked improvement across all financial parameters with a significant margin and EBITDA expansion for the second quarter as well as the half year.”
The business results are in line with the Aspiration 2022 of improving EBITDA margins by 800 bps.
Giridhar Sanjeevi, Executive VP and CFO, IHCL stated, “The strong results reflect our proactive focus on business performance and asset management, mitigating the mark to market impact on the historical forex swaps.”
