Indian Hotels Q4 PAT turns around to profit of Rs74.19cr yoy on higher other income and lower finance costs

28 Apr 2022 , 07:48 PM

Indian Hotels Ltd reported 41.8% growth in total revenues yoy for the Mar-22 quarter on consolidated basis at Rs872.08cr. On a sequential basis, revenues were lower for the quarter by -21.52%.

For the full year FY22, the revenues were higher by 84.5% at Rs3,211cr. During the year, the company bought 6.95% stake in PIEM Hotels, 27.68% stake in Omega TC Holdings and 2.44% stake in RCL.

The board has declared dividend of Rs.0.40 per share and on a yoy basis, the debt/equity has fallen sharply from 0.85 to 0.26 levels. This led to a sharp improvement in the interest coverage ratios and the debt service coverage ratio.

The consolidated net profit for Q4 turned around from Rs-91.30cr last year Q4 to Rs74.19cr in the latest Q4.

This was helped along the way by a sharp increase in other income as well as a sharp fall in the finance costs in sync with the falling debt levels of the company.

The hotels and leisure business being contact intensive is just about starting to pick up momentum in the last two quarters of the year. Net margins stood at 8.51% in Mar-22 quarter compared to -14.85% in Mar-21. NPM was higher sequentially compared to 6.84%.

Financial highlights for Mar-22 compared yoy and sequentially

	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%