Indian Hotels Reports Stellar Q3: Profit Soars 33% YoY to ₹633 Crore Amid Robust Growth

In the third quarter ending December 2024, Indian Hotels Company Limited (IHCL) reported a consolidated net profit of ₹633 crore, marking a 33% year-on-year increase. The company's revenue rose by 29% to ₹2,592 crore during the same period. This robust performance is attributed to the consolidation of its air and institutional catering business.

IHCL's Managing Director and CEO, Puneet Chhatwal, highlighted that the company has set a new growth benchmark with 55 signings and 20 openings to date this fiscal year, with 85% of these signings being capital light. The company aims to reach 700 hotels by 2030, expanding its portfolio significantly.

Following the announcement, IHCL's shares closed 0.23% higher at ₹813.35 apiece on the National Stock Exchange, outperforming the benchmark Nifty 50, which declined by 0.47%.

These results underscore IHCL's strong operational performance and strategic growth initiatives in the hospitality sector.

Source: NDTV Profit, Economic Times,Economic Times