How did Indian Hotels fare in the Mar-22 quarter?
Answer
Answer
Indian Hotels, part of the Tata group and the owner of the Taj brand, reported 41.8% growth in revenues in the Mar-22 quarter at Rs.872 crore. Full year revenues for FY22 saw a sharp recovery by 85% at Rs.3,211 crore. The debt/equity has fallen sharply from 0.85 to 0.26 levels. This led to improvement in the interest coverage ratios and the debt service coverage ratio. Indian Hotels benefited from a return to normalcy of this contact intensive sector, as market demand returned to level of normalcy.
Indian Hotels
Rs in Crore
Mar-22
Mar-21
YOY
Dec-21
QOQ
Total Income (Rs cr)
₹ 872.08
₹ 615.02
41.80%
₹ 1,111.22
-21.52%
Net Profit (Rs cr)
₹ 74.19
₹ -91.30
N.A.
₹ 76.01
-2.39%
Diluted EPS (Rs)
₹ 0.56
₹ -0.74
₹ 0.61
Net Margins
8.51%
-14.85%
6.84%
The consolidated net profit for Q4 turned around to a profit at Rs.74.19 crore as compared to Rs.-91.30 crore net loss in the last year Q4. India Hotels also showed a sharp rise in other income supported by a sharp fall in finance costs which synchronized with the falling debt levels. Hotels and leisure business is just about starting to pick up momentum in last two quarters as contact intensive sectors are making a comeback. Net margins were 8.51% in Mar-22 quarter compared to -14.85% in Mar-21. NPM was higher sequentially.