IHCL's Steady Ascent: A Strong Q3 Performance Fueling Future Growth

Indian Hotels Company Ltd, part of the Tata group, reported a significant 29% increase in net profit for Q3 2024, reaching Rs 582.32 crore. This surge, driven by air and institutional catering business consolidation, was complemented by a 29% rise in total income.

Indian Hotels Company Ltd (IHCL), a Tata group's hospitality enterprise, has announced a remarkable 29% rise in net profit for the third quarter of 2024, amounting to Rs 582.32 crore. This surge was notably driven by the integration of its air and institutional catering businesses.

In comparison to the Rs 451.95 crore reported in the same quarter of the previous fiscal year, IHCL's total income also witnessed a 29% rise, reaching Rs 2,592 crore by the end of December 2024. This substantial growth was confirmed in a recent regulatory filing by the company.

Puneet Chhatwal, IHCL's Managing Director and CEO, attributed this successful quarter to the strategic consolidation of key business segments. He emphasized that the consistent record-breaking performance over 11 consecutive quarters was fueled by a 40% growth in new ventures and notable expansion in the US portfolio. Looking ahead, he remains optimistic about continued demand buoyancy.

(With inputs from agencies.)