Indian Hotels Q1 net jumps 127 per cent
The Hindu Business Line — July 28, 2006

Indian Hotels Company (IHCL) has reported a 127-per-cent increase in net profit at Rs 38.50 crore for the first quarter ended June 30 up from Rs 16.91 crore in the year-ago period. Control over costs and improved operating efficiencies have helped the company's profits.

Total income rose by 30 per cent to Rs 270 crore (Rs 207.84 crore). Other income rose to Rs 12.66 crore (Rs 5.58 crore). Total expenditure went up by 19 per cent.

"The growth was driven by healthy improvement in average room rates across the portfolio backed by steady growth in its food and beverages business across all key markets,'' IHCL said quoting its managing director, Mr Raymond Bickson.

The shares of IHCL moved up by Rs 39.20 or 3.4 per cent to Rs 1193.25 on BSE.