Monday, October 25, 2021

Indian Hotels revenue doubles to Rs752cr in Q2FY22 | Impact & Outlook

  



The Indian Hotels Company Limited (IHCL) reported its consolidated financials for the second quarter ending September 30, 2021.  The company reported a 132 % yoy increase in revenues to Rs752cr in Q2FY22 from Rs324cr in Q2FY21. EBITDA improved by Rs180cr to Rs97cr in Q2FY22 from a loss of Rs83cr in Q2FY21. The company narrowed down the margin of loss from Rs230cr in Q2FY21 to Rs121cr in Q2FY22.

The board of directors of IHCL announced the approval of Rs4000cr of fundraising: Rs2000 crore will be raised by way of the rights issue and additional Rs2000cr through QIP, subject to receipt of requisite approvals. The board also announced the approval of purchase of balance shares from the existing shareholders of Roots Corporation Limited which operates the Ginger brand.

The company signed five new hotels across brands including three SeleQtions hotels in Kolkata, Bhubaneswar and Nainital respectively; Vivanta in Ahmedabad, and Ginger in Udaipur.


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Stock Outlook

Long term outlook is still strong and positive. But in short term stock will remain in the range of 191 in downside and 239 in upside. Plan accordingly.

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Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.


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