IHCL Reports Steady Growth Despite Profit Fluctuations

Indian Hotels Company Ltd (IHCL) reported a 15% increase in net profit for the second quarter, excluding a prior exceptional gain of Rs 307 crore. This increase marks a contrast to a 45% decline when including the previous year's one-off gain.

For the quarter ending in September, IHCL's consolidated net profit reached Rs 318.26 crore, with revenue from operations growing by 12% year-on-year to Rs 2,040.89 crore. IHCL's total expenses also rose to Rs 1,671.54 crore, up from Rs 1,502.01 crore in the previous fiscal period.

According to CEO Puneet Chhatwal, IHCL is on track for continued growth, attributed to strong industry fundamentals, increased management fee income, and a successful international business segment. Growth in new businesses such as Ginger and ama has been significant, with prospects for continued expansion.