IHCL has reported a net profit of Rs 222 crores—growth of 31 per cent YoY in Apr-June quarter. Commenting on the Q1 FY24 performance, Puneet Chhatwal, MD & CEO, IHCL, said, “IHCL ended the first quarter with a strong performance led by a double-digit revenue growth. Turnover crossed Rs 1,500 crore mark, making it a historical Q1.” He added, “Maintaining our industry leading portfolio, IHCL signed 11 and opened 5 new hotels across all its brands. With our vast footprint across 125 plus locations we will leverage the buoyancy in India’s travel and tourism sector. The outlook for the upcoming quarters remains strong with pace of demand driven by domestic consumption momentum, global events and revival of international arrivals.”
