Days after Ratan Tata’s death, some good news for Noel Tata as THIS company earns Rs 582.71 crore net profit

Indian Hotels Company Ltd on Thursday reported a rise in its consolidated net profit to Rs 582.71 crore for the second quarter of 2024-25, thanks to remarkable gains from the unification of its aviation and institutional catering business segment TajSATS, Indian Hotels Company Ltd. 

According to a regulatory filing, The firm had registered a net profit of Rs 178.97 crore in the year-ago period.

From Rs 1,433.20 crore in the corresponding quarter of the last financial year, its revenue from operations increased to Rs 1,826.12 crore in the June-September quarter.

However, IHCL's expenses also rose to Rs 1,502.01 crore during the period under review, as against Rs 1,248.68 crore a year ago.

"For FY2025, we continue to maintain guidance of double-digit revenue growth led by the sustained growth in new businesses, not like for like growth and healthy same-store performance. This is reflected in a strong 16.5 per cent growth in consolidated hotel segment revenue in October which is set to accelerate in the remaining months of Q3".

He further shared that IHCL will take over the management of landmark hotel The Claridges, New Delhi in April 2025 under a hotel operating agreement. In addition, IHCL has entered into definitive agreements to acquire majority share-holding in Tree of Life brand holding company, expanding its brandscape with a boutique leisure offering.

(with inputs from PTI)