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Our Bureau

Mumbai , Nov. 1

Indian Hotels Company Ltd (IHCL) has announced a 74.5 per cent increase in net profit for the second quarter ended September 30, on a 30 per cent increase in turnover. The company's net profit stood at Rs 46.22 crore (Rs 26.48 crore).

Commenting on the company's performance in the second quarter, Mr Raymond N. Bickson, Managing Director, IHCL, said, "The growth was driven by healthy improvement in average room rates across the portfolio, supported by steady growth in its food and beverage business across all key markets.''

Currently, IHCL has 76 hotels and about 9,182 rooms. The hotel chain added nine properties to its list over the past 12 months.

"The company will pursue an aggressive growth agenda, adding up more hotels and resorts. IHCL will build five new hotels in Mumbai, Coimbatore and Bangalore besides renovating the Falaknuma Palace in Hyderabad. In addition, new `Ginger' hotels are under construction at six locations across India. We are also on the hunt for opportunities for growth in key international markets,'' said Mr Bickson.

Related Stories:
Indian Hotels net at Rs 26.48 cr

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