IHCL Results: Indian Hotels Company posts Rs 71.5 crore profit for Jan-Mar; check key details of earnings

Indian Hotels Company Ltd (IHCL), a Tata group hospitality company, announced a consolidated net profit of Rs 71.57 crore for the fourth quarter ended March 31, 2022, on Wednesday, as per PTI report.

In the same period of the previous fiscal, IHCL reported a consolidated net loss of Rs 97.72 crore, according to a regulatory filing.

According to PTI, during the quarter under review, consolidated revenue from operations was Rs 872.08 crore, up from Rs 615.02 crore the year before.

According to the company, total expenses in the fourth quarter were Rs 894.16 crore, up from Rs 754.15 crore in the same time a year ago.

IHCL reported a consolidated net loss of Rs 264.97 crore for the fiscal year ending March 21, 2022. The previous fiscal's combined net loss was Rs 795.63 crore, said PTI.

According to the company, consolidated revenue from operations in 2021-22 was Rs 3,056.22 crore, up from Rs 1,575.16 crore in 2020-21.

The Board of Directors recommended a dividend of 40 paise per share at their meeting on Wednesday, subject to approval by the members at the upcoming Annual General Meeting, it added.

COVID-19 has had a negative influence on the business this year. The second wave of COVID-19 and subsequent lockdowns in numerous states across India, where the Group mostly operates, resulted in lower revenues in the first three months of the year, according to IHCL.

A third wave occurred in January 2022, resulting in restrictions in some states and a negative impact on revenues, said PTI.

"However, with increased vaccinations and consequent reduction in number of cases and easing of all restrictions, the group has witnessed recovery in both leisure and business segments in all the other months," it added.

(With PTI inputs)