As the hospitality business starts to thrive, this iconic luxury brand regains lost ground!
The hospitality business had a massive setback because of the pandemic. Indian Hotels Company Ltd has not only managed to rebuild its business but also delivered returns to its shareholders.
Indian Hotels Company Limited is South Asia’s largest hospitality company by market capitalization. It is managed as a subsidiary of Tata Group. With businesses ranging from iconic luxury to upscale and budget stopovers as well as in-flight catering, IHCL’s pioneering leadership is backed by a rich 115-year legacy. IHCL’s emerging initiatives in urban leisure, service retail, and concept travel are a part of its evolution, one that is continuously recrafted for future generations. IHCL, through all its vivid brands - Taj, SeleQtions, Vivanta, The Gateway, Ginger, Expressions, and TajSATS - believes in adding passion to the process.
The company faced many consequences during the pandemic, but they have strongly and successfully managed to not only flourish their business but also deliver returns to their shareholders.
On 26 April, the company announced the signing of a new SeleQtions hotel in Udaipur, Rajasthan. The hotel is under a management contract with Lalit Bagh Heritage Palace and Museum Private Limited. On 27 April, they reported their consolidated and standalone financials for the fourth quarter ending 31 March 2022 and for the full year 2021-22.
On a consolidated basis, the company has reported a net profit of Rs 71.57 crore for the current quarter as compared to a net loss of Rs 97.72 crore for the same quarter last year. The total income of the company increased by 52.42% to Rs 954.88 crore for Q4FY22 as compared to Rs 626.47 crore in the last quarter.
For the year ended 31 March 2022, on the consolidated basis, the company has reported a net loss of Rs 264.97 crore as compared to a net loss of Rs 795.63 crore for the previous year. However, total income of the company increased by 84.57% at Rs 3211.38 crore for the current year compared to Rs 1739.88 crore for the year ended 31 March 2021.
Overall, this company is the epitome of the hospitality business and is continuing to work beyond the expectations of its customers as well as shareholders.
On Monday, the share price ended at Rs 261.65, witnessing a 2.11% gain. The 52-week high is 265.45, and 52-week low is 103.78.
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