Tata Group Firm Surges 5% on Healthy Q4 Results; EBITDA Rallies 192% YoY

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Tata Group Firm Surges 5% on Healthy Q4 Results; EBITDA Rallies 192% YoY
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of South Asia’s largest hospitality-focused enterprise Indian Hotels (NS: IHTL ) surged 4.94% to Rs 247.4 apiece at the time of writing, after shooting over 5% in early trade on Thursday.

The stock uptick was a result of the company’s healthy quarterly performance in the Jan-March 2022 period.

The Tata Group company’s consolidated net profit in the final quarter of FY22 was reported at Rs 71.57 crore, compared to Rs 97.72 crore consolidated net loss posted in the year-ago period.

Its revenue from operations surged 42% YoY to Rs 872 crore in the quarter, and on an annual basis, the figure rallied by 94% YoY to Rs 3,056 crore in the financial year 2021-22.

The hospitality giant also reported recording the highest number of new hotel signings in India for the second consecutive year in FY22, the total standing at 19 new hotels.

It also witnessed annual losses shrinking at Rs 265 crore in FY22 by 67% YoY. In the quarter ending March 2022, the company’s EBITDA rallied a whopping 192% YoY, despite the Omicron variant hitting hard in Jan 2022. It also recorded the highest-ever EBITDA margin of 25.3% in the quarter under focus.

In Q4, the company opened five new hotels across brands like Taj Exotica Resort & Spa, The Palm, Dubai; Vivanta Turbhe, Ginger Greater Noida, and Ginger Kochi, among others, and signed five new hotels including two Vivanta hotels, a Ginger hotel and two SeleQtions hotels across India.

The hotel chain has raised Rs 4,000 crore, Rs 2,000 crore through the rights issue, along with an additional Rs 2,000 crore through QIP. 

Roots Corporation, which operates the Ginger brand, is now an IHCL subsidiary.

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