IHCL net soars 86% at Rs 79 cr
The Economic Times — June 9, 2006

Buoyed by higher tariffs and realisations from food and beverages, the Indian Hotels Company (IHCL) has recorded a 86% rise in net profit for the quarter ending March 31, '06 to Rs 78.8 crore from Rs 42.1 crore. The net profit for the full year saw a 74% rise to Rs 183.7 crore. IHCL's revenues for Q4 of '06 rose 36% to Rs. 368.7 crore from Rs 271.3 crore. For the full financial year, IHCL recorded a 29% rise in revenues at Rs 1,128 crore, up from Rs 873 crore last year.

The board of directors has recommended a dividend of 130% for the shareholders of IHCL. While occupancy rates in IHCL properties didn't change much over the past one year, the average room rate (ARR) of the group's hotels has increased by nearly 30% to Rs 7,187 this year from Rs 5,471 last year. The contribution of F&B went up by Rs 406.3 crore from Rs 336.4 crore for the year ended March '05.