Indian Hotels Company announced Q1FY24 results: Revenue of Rs 1,516 crore in Q1FY24 compared to Rs 1,293 crore in Q1FY23, up 17% YoY EBITDA of Rs 459 crore in Q1FY24 compared to Rs 405 crore in Q1FY23, up 13% YoY PAT of Rs 222 crore in Q1FY24 compared to Rs 170 crore in Q1FY23, up 31% YoY Commenting on the Q1 FY24 performance, Puneet Chhatwal, Managing Director & CEO, IHCL, said, “IHCL ended the first quarter with a strong performance led by a double-digit revenue growth. Turnover crossed the Rs 1,500 crore mark, making it a historical Q1.” He added, “Maintaining our industry-leading portfolio, IHCL signed 11 and opened 5 new hotels across all its brands. With our vast footprint across 125+ locations, we will leverage the buoyancy in India’s travel and tourism sector. The outlook for the upcoming quarters remains strong with the pace of demand driven by domestic consumption momentum, global events, and revival of international arrivals.” Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL said, “A strong focus on profitability and cash flow resulted in IHCL Consolidated reporting a steady EBITDA margin of 30.3% and net cash of Rs 889 crore as on 30th June 2023. In Q1, we have commenced capital investments towards renovation and upgradation of select hotels in our portfolio.” Result PDF