Indian Hotels Company Ltd (IHCL) reported a 56 per cent year-on-year increase in net profit at ₹123 crore in the fourth quarter ended March 31, 2019.
The quarter’s net profit is, however, lower than the preceding quarter’s ₹170 crore.
The board recommended a dividend of ₹0.50 per equity share of ₹1 each.
The company signed on 22 hotels in the 2019 fiscal and added an inventory of over 3,200 rooms to its pipeline via 18 management contracts and four operating leases, according to a statement. The luxury hotel chain also won the bid for the iconic Taj Mahal, New Delhi also known as Taj Mansingh.