NEW DELHI: Taj Parent Indian Hotels Company Ltd (IHCL) has reported its highest-ever quarterly benefit of Rs 328 crore within the length ended March 31, 2023, up 343% from a benefit of Rs 74.2 crore in similar length closing yr.
The Tata Group corporate has reported a bumper benefit of Rs 1,003 crore in fiscal 2022-23, in comparison to a lack of Rs 248 crore in FY 22. The general source of revenue income 85% from Rs 3,211 crore in FY 22 to Rs 5,949 crore in FY 23.
It has really helpful paying a 100% dividend of Re 1 in step with absolutely paid up fairness percentage of Re 1 every, up from 40% dividend closing fiscal. IHCL scrip closed at Rs 339.9 on Thursday BSE, down 0.3% when the wider marketplace used to be up 0.6%.
IHCL had noticed its easiest ever quarterly numbers with regards to income and benefit within the top October-December 2022 go back and forth length. But the next lean go back and forth quarter, January-March 2023, noticed the ones numbers being bested via new all-time highs, signaling that the sturdy post-pandemic restoration within the area is nowhere with reference to working out of steam.
IHCL MD-CEO Puneet Chhatwal mentioned: “IHCL achieved a record setting year with a number of significant achievements including the highest ever full year consolidated revenue, an all-time high and industry leading EBITDA margin and profit after tax of over Rs 1,000 crores a historic first for the company. This performance was enabled by four consecutive quarters of sustained high demand, additionally bolstered by IHCL demonstrating revenue per available room leadership across its brandscape in all its key markets.”
“During last fiscal, IHCL crossed over 260 hotels in its portfolio including 36 signings and 16 openings in the year… also able to achieve an optimal 50:50 mix between our owned/leased and managed hotels,” mentioned the MD.
TajSATS, the Taj-owned flight catering corporate which is the most important in India, accounted for 58% marketplace percentage in FY 2022-23 and had a income of Rs 641 crore — up 53 over pre-Covid — and a benefit earlier than tax of Rs 107 crores.
IHCL EVP & CFO Giridhar Sanjeevi mentioned: “Robust demand across markets and segments has led to all group companies reporting a full year positive profit after tax in domestic operations. Growth in same store performance supported by margin enhancing new businesses and asset light growth has led to a record EBITDA margin. This has been made possible by maximizing operating leverage of our owned/leased hotels and margin enhancing fee-based business. IHCL continues to report a healthy consolidated free cash flow of Rs 1,017 crores in FY 2022- 23 and remains net cash positive.”
Chhatwal added: “IHCL’s performance reflects the affection and loyalty of our guests, the continuous guidance and support from our Board and the remarkable passion and commitment of the 28,000-strong IHCL team. The management’s focus remains on value creation for all stakeholders, offering customers a unique hospitality ecosystem across segments, leading the way in engaging local communities in our value chain, pioneering new destinations in the country and delivering continued superior performance.”
The Tata Group corporate has reported a bumper benefit of Rs 1,003 crore in fiscal 2022-23, in comparison to a lack of Rs 248 crore in FY 22. The general source of revenue income 85% from Rs 3,211 crore in FY 22 to Rs 5,949 crore in FY 23.
It has really helpful paying a 100% dividend of Re 1 in step with absolutely paid up fairness percentage of Re 1 every, up from 40% dividend closing fiscal. IHCL scrip closed at Rs 339.9 on Thursday BSE, down 0.3% when the wider marketplace used to be up 0.6%.
IHCL had noticed its easiest ever quarterly numbers with regards to income and benefit within the top October-December 2022 go back and forth length. But the next lean go back and forth quarter, January-March 2023, noticed the ones numbers being bested via new all-time highs, signaling that the sturdy post-pandemic restoration within the area is nowhere with reference to working out of steam.
IHCL MD-CEO Puneet Chhatwal mentioned: “IHCL achieved a record setting year with a number of significant achievements including the highest ever full year consolidated revenue, an all-time high and industry leading EBITDA margin and profit after tax of over Rs 1,000 crores a historic first for the company. This performance was enabled by four consecutive quarters of sustained high demand, additionally bolstered by IHCL demonstrating revenue per available room leadership across its brandscape in all its key markets.”
“During last fiscal, IHCL crossed over 260 hotels in its portfolio including 36 signings and 16 openings in the year… also able to achieve an optimal 50:50 mix between our owned/leased and managed hotels,” mentioned the MD.
TajSATS, the Taj-owned flight catering corporate which is the most important in India, accounted for 58% marketplace percentage in FY 2022-23 and had a income of Rs 641 crore — up 53 over pre-Covid — and a benefit earlier than tax of Rs 107 crores.
IHCL EVP & CFO Giridhar Sanjeevi mentioned: “Robust demand across markets and segments has led to all group companies reporting a full year positive profit after tax in domestic operations. Growth in same store performance supported by margin enhancing new businesses and asset light growth has led to a record EBITDA margin. This has been made possible by maximizing operating leverage of our owned/leased hotels and margin enhancing fee-based business. IHCL continues to report a healthy consolidated free cash flow of Rs 1,017 crores in FY 2022- 23 and remains net cash positive.”
Chhatwal added: “IHCL’s performance reflects the affection and loyalty of our guests, the continuous guidance and support from our Board and the remarkable passion and commitment of the 28,000-strong IHCL team. The management’s focus remains on value creation for all stakeholders, offering customers a unique hospitality ecosystem across segments, leading the way in engaging local communities in our value chain, pioneering new destinations in the country and delivering continued superior performance.”