Indian Hotels Company registers loss of Rs91cr in Q4FY21, Revenue declines to Rs626cr

The company declares a 40% dividend for FY21. EBITDA up by 118% on a sequential basis.

May 03, 2021 04:05 IST India Infoline News Service

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The Indian Hotels Company Limited (IHCL), South Asia’s largest hospitality company, reported its consolidated and standalone financials for the fourth quarter ending March 31, 2021, and the full year FY21.

The company’s Q4 registered loss of 91cr from Rs74cr Profit After Tax in Q4FY20. The revenue in Q4FY21 declined to Rs626cr from Rs1101cr in Q4FY20. EBITDA also declined to Rs83cr in Q4FY21 from Rs246cr in Q4FY20. EBITDA increased 118% on qoq basis.

“The company recorded the highest number of new hotel signings and openings in the industry during FY21 with 17 signings and seven new hotel openings.  Driven by an asset-light growth strategy, approximately 80% of the development pipeline comprises management contracts,” company said in a regulatory filing on Friday.

For the year ending March 31, 2021, the Board of Directors have recommended an equity dividend of 40% amounting to Rs0.40 per share.

“Despite continued pandemic related challenges that have impacted the travel and hospitality sector, IHCL has remained laser focused on executing its R.E.S.E.T 2020 strategy. The company has developed innovative revenue streams to meet evolving customer needs and have followed stringent spend optimization and financial prudence measures. These initiatives helped the company achieve quarter-onquarter growth and deliver a positive EBITDA in the last two quarters of FY 2020-21. The company will continue to evolve to cater to dynamic market trends, with agility at its core,” Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, said.

“In addition to the company’s efforts to mitigate the business impact, IHCL continues to extend support to the community in its fight against the pandemic. The company has offered over 1400 rooms across its hotels in the country as quarantine facilities to partner hospitals,” Chhatwal added.

Indian Hotels Co Ltd ended at Rs111.50 per piece up by Rs0.05 or 0.04% from its previous closing of Rs111.45 per piece  on the BSE.

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