Indian Hotels Co reports PAT of Rs 46.22 cr
Indian Hotels Company Ltd has reported a jump in profit after tax at Rs 46.22 crore for the second quarter ended September 30, up 75 per cent in the same period last quarter.
By PTI |
MUMBAI: Indian Hotels Company Ltd has reported a jump in profit after tax at Rs 46.22 crore for the second quarter ended September 30, up 75 per cent in the same period last quarter.
The company's turnover for the second quarter is Rs 293.27 crore, up 30 per cent in the same period last year.
For the half year ended on September 30, the company's profit after tax is Rs 84.72 crore and turnover is Rs 563.27 crore.
Addressing a press meet here, Raymond Bickson, managing director of Indian Hotels Company, said the occupancy in its city hotels are up contributing to its revenue. Its hotels in Mumbai, Pune and Goa continue to grow, he added.
Indian Hotels has been able to post profit, despite April to September being a lean season and it has been utilised to carry out repair and maintanence, he added.
In the next six months, the company expects the room occupancy to go up; and the price hike of rooms by about 25 per cent to 40 per cent would boost its profits.
As part of its key strategic investments, Anil P Goel, senior vice president-finance, said the company would like to have a luxury hotel in all the financial markets in the world. Besides the financial markets, the company wants to have "classy hotels" such as Pierre in New York in at least 10 to 12 international locations, he added.
The results were declared after the markets shut for the day. Indian Hotels Company's shares closed the day at Rs 142 on the Bombay Stock Exchange, down 1.18 per cent.
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