HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > NewsTrack
NEWSTRACK

IHCL registers highest PAT growth in 11 years in Fy2018-19

Announces highest equity dividend of 50%

Thursday, May 2, 2019, 17:40 Hrs  [IST]
HBI Staff|New Delhi

Indian Hotels Company Limited (IHCL), a listed company under the TATA group which owns Taj Group of Hotels, has announced their Annual financial results for 2018-19 as well as standalone 4th quarter results ending on March 31, 2019. The company has registered highest PAT (Profit After Tax) in 11 years at Rs 287 cr in fy2018-19. The company has posted 10% revenue growth and 25% EBITDA growth at Rs 913 cr. 


For the year ending March 31, 2019, the Board of Directors have recommended an equity dividend of 50% amounting to Rs 0.50 per share. This is an increase over the previous dividend pay-outs of 40% and 35% in 2017/18 and 2016/17 respectively, the company said in a release.

 Commenting on the fiscal performance, Puneet Chhatwal, MD and CEO, IHCL said, “IHCL is on track in the execution of its strategy, Aspiration 2022. Our reimagined brandscape gave us the opportunity to sign 22 hotels with an inventory of over 3200 rooms across brands in India and key international markets like London, Makkah, Kathmandu and Dubai. We opened five hotels in this fiscal and are well-poised to open one hotel per month in light of a healthy pipeline and confirmed momentum of signing new contracts.” 

 “Our customer-centric approach combined with an eye on profitability resulted in the EBITDA margins growing by 229 bps for the year. We continued to enhance our value proposition through the renewed brands, customer experiences and offerings, whilst deleveraging our balance sheet,” stated Giridhar Sanjeevi, EVP & CFO, IHCL. 

The company renovated and upgraded several hotels to stay relevant for the ever-evolving global traveller. 19 hotels were upgraded to the Taj brand. Taj MG Road, Bengaluru unveiled its all-new look recently after a major renovation. Some of the other renovated hotels in key cities include: Taj Palace, New Delhi; Taj Exotica Resort & Spa, Goa; Taj Fort Aguada Resort & Spa, Goa; Taj Bengal, Kolkata; Taj Fisherman’s Cove Resort & Spa, Chennai; Taj Krishna, Hyderabad; Taj Ganges, Varanasi; Taj Mahal, Lucknow and St. James’ Court, A Taj Hotel, London.  

The company also introduced the iconic Taj brand in Rishikesh with the opening of Taj Rishikesh Resort & Spa, Uttarakhand.

 
Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with del.icio.usdel.icio.us Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
 POST A COMMENT
* Name :    
* Email :    
* Message :  
   
RELATED NEWS
»  Senior executive Gaurav Gupta, face of Zomato IPO, quits company
»  Indian Origin Chef Dayashankar Sharma named London’s best Indian chef 2021
»  The Leela Palaces, Hotels and Resorts voted as the World’s Best Hotel Brand for the second consecutive year by Travel + Leisure USA World’s Best
»  Lords Hotels and Resorts appoints Ravi Kumar - Regional Sales Manager, Hyderabad
»  Vivaah at Novotel collaborates with Indian Matchmaker Sima Taparia
»  The Fern Hotels & Resorts partners with VSnapU
»  Sarovar Hotels and Lotus Petal Foundation join hands for World Charity Day
»  Indian School of Hospitality invites applications for Diploma in Culinary Arts to provide professional and practical experience to students
»  Mathur Hospitality Pvt Ltd signs a Non-Exclusive Development Agreement (NEDA) with Wyndham Hotels & Resorts
»  amã Stays & Trails Crosses The Milestone Of 50 Bungalows
»  Fairmont Jaipur hosted an evening with Sima Taparia, the Indian Matchmaker
»  Roseate Hotels & Resorts announces special offers on its fifth anniversary
»  The Leela Palaces, Hotels and Resorts appoints Madhav Sehgal as the General Manager of The Leela Palace Bengaluru
»  The Leela Palaces, Hotels and Resorts announces the opening of The Leela Gandhinagar In Gujarat
»  Le Méridien Hotels & Resorts announces the opening of Le Méridien Maldives Resort & Spa
»  RARE India adds 18 new hotels
»  Oyo to launch self sign-up service for hotels
»  IHG Hotels & Resorts expands footprint in Nepal with a new Holiday Inn Express and Suites signing in Kathmandu
»  Sarovar Hotels signs its second Golden Tulip in Goa
»  Wyndham Hotels & Resorts taps AWS to upgrade global cloud infrastructure
 
CoverStory
Analysis
 
  The Indian Institute of Architects (IIA) Natcon 2020 virtual event concludes successfully
  Winners of The Park Elle Décor Student Contest felicitated at Indian Design ID 2020
 
weekly
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar




Events
 
 
people
interview
newappoint
expert
© Copyright 2016 Saffron Synergies Pvt Ltd
HOME   |   ABOUT US   |   CONTACT US   |   FEEDBACK   |   DISCLAIMER   |   SITE MAP   |   ARCHIVES