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Mumbai, January 15, 2016 : The Indian Hotels Company Limited Financial Results – Nine Months Ended December 31, 2015 with the Standalone Total Income at Rs 1667 crores grows by 13% and Consolidated Total Income at Rs 3453 crores grows by 10%

 

Standalone Results

- The Company reported Total Income from Operations of Rs 1587 crores for the nine months ended December 31, 2015 which was 12% ahead of the Total Income from Operations reported for the corresponding period of the preceding year.

- EBITDA for the nine months at Rs 326 crores improved over the corresponding half year period of the preceding year by 24%.

-Profit from Ordinary Activities after Tax for the nine months ended December 31. 2015 was Rs 113 crores against the Profit of Rs 37 crores for the corresponding period of the preceding year.

-The company reported Total Income from Operations of Rs 663 crores for the quarter ended December 31,2015 which was 10% ahead of the total income from operations reported for the corresponding quarter of the preceding year.

- EBITDA for the quarter ended December 31,2015 at Rs 195 crores improved over the corresponding quarter of the preceding year by 15%.

-Profit from Ordinary Activities after Tax for the quarter ended December 31,2015 was Rs 62 crores , against the Profit of Rs 52 crores for the corresponding quarter of the preceding year.

 

Consolidated Results

- The company reported a Total Consolidated Income from Operations of Rs 3362 crores for the nine months ended December 31,2015 an improvement of 9% over corresponding period of the preceding year.

-Consolidated EBIDTA for the ninemonths ended December 31, 2015 at Rs 525 crores was higher than the EBIDTA reported for the corresponding period of the preceding year by 32%.

-Consolidated Loss after Tax and Exceptional Items for the current nine months was Rs(9) crores compared to the corresponding period of the preceding year loss of Rs(71) crores.

-The company reported Total Consolidated Income from operations of Rs 1309 crores for the quarter ended December 31,2015 which was 8% ahead of the Total income from Operations reported for the corresponding quarter of the preceding year.

-Consolidated EBITDA for the quarter ended December 31,2015 at Rs 290 crores improvedover the corresponding quarter of the preceding year by 9%.

-Consolidated Profit after Tax and Exceptional Items for the quarter ended December 31, 2015 was Rs 10 crores, against the Profit of Rs 62 crores for the corresponding quarter of the preceding year.

 

Restructing & Amalgamation

-The Board of Directors at its meeting held on October 19,2015 have approved the amalgamation of International Hotel Management Services LLC( formerly known as IHMS Inc.)and Lands End Properties Private Limited, two wholly owned subsidiaries (“transferor comapnies”) into the Company , by way of two seperate Schemes of Arrangements between the Company.

-In thus regard the company has received SEBI's 'Observation Letter', which was communicated to the Comoany by the BSE limited and The National Stock Exchange Limited vide their letters dated December 16,2015 and December 17,2015, respectively.

-On receipt of the aforesaid letters , the company has filed the requisite applications with the Bombay Hugh Court on December 22,2015 requesting the High Court for Summons to issue necessary directions for convening the shareholders and Creditors meetings, and other related formalities.

Capacity Expansion

-The company is poised to open the 150 rooms Vivanta by Taj at Guwahati and 154 rooms Taj at Bangalore and is poised to open the 283 rooms Taj Santacruz, hotel in Mumbai, in the 4th quarter of the current financial year. In addition , the Company has , through a subsidiary , added 78 rooms at the Gateway hotel in Nashik.

 

For further information, please contact:

 

Rediffusion/Edelman

 

Munavar Attari | Mob: +91 9930143535 | Email: Munavar.attari@edelman.com