Taj Group posts Q3 profit of Rs 108 crore

NEW DELHI: Indian Hotels Company (IHCL) or the Taj Group reported a net profit of Rs 108 crore in its Q3 results for the quarter ended December 31. The company reported revenues of Rs 1,217 crore, a 6 per cent year on year growth, it said in a BSE filing.

Puneet Chhatwal, MD and CEO of IHCL said: "For the third quarter, our company demonstrated a good performance through enhanced revenues and cost optimisation measures. During the year, we have added and upgraded our inventory of over 1,300 rooms including our flagship hotel the Taj Mahal Palace in line with our efforts to consolidate our position of being an iconic and profitable hospitality company.

CFO Giridhar Sanjeevi added: "As a consequence of balance sheet management initiatives combined with the recent successful rights issue, our debt to equity ratio of the company has reduced to 0.47 and it remains our focus to support growth while containing our leverage ratios."


During the year, the company opened six hotels under its Ginger brand in locations like Mumbai, Lucknow, Gurgaon, Gujarat.

IHCL will launch its Taj Exotica Resort and Spa in Havelock Andamans this month.