Revenue at Rs 182 crores up by 27 per cent and operating profit at Rs 12.15 crore up by 79 per cent. Fueled by strong growth in ARRs and occupancies.

• For the quarter ending September 30, 2004, IHCL reported 27 per cent growth in revenues at Rs 182 crore as compared to Rs 143 crore achieved in the corresponding period, last year. The revenue for the six months ending September 30, 2004 was Rs 351 crore, an improvement of 27 per cent as well over the corresponding period of the preceding year.

• Operating profits at Rs 12.15 crore for the quarter and 20.63 crore for the six months ending September 30, 2004 were higher by 79 per cent and 156 per cent respectively over the corresponding profits for the preceding year. Taking into account income on sale of shares, the PBT for the quarter and the six months ending September 30, 2004 stood at Rs 28.73 crore and Rs 37.21 crore, respectively, a significant improvement over the preceding year’s performance.

• Increase in other expenditure was partially on account of the increase in operating income but included a provision of Rs 5.85 crore being the impact of “mark to market” of the company’s foreign currency assets and liabilities as on September 30, 2004.

Announcing the results, Mr Raymond N. Bickson, managing director, said, that the strong performance in the first six months of the current year, traditionally considered to be an off-season period has been driven by the significant investments that the company has made in recent times on renovation of its properties, improvement of service standards and other initiatives in order to maintain its leadership position.