Indian Hotels Q3 Results Review - Yet Another Best Ever Quarter: IDBI Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.The Indian Hotels Company Ltd.’s Q3 FY24 result was in-line with our estimate on net sales front, while margins were beat to our and consensus estimates. Indian Hotels robust performance was impressive on all key operating metrics, aided by strong demand momentum. Further, the management’s positive commentary on future outlook is encouraging. We believe the company is poised for robust earnings trajectory over next couple of years supported by many growth levers. Net sales increased by 16.5% YoY to Rs 19.6 billion, while Ebitda came in at Rs 7.3 billion, a healthy growth of 22.6% YoY. Net profit stood at Rs 4.7 billion, higher by 18.2% YoY. We remain positive on domestic hotels segment and continue to like Indian Hotels amongst the listed players. We roll over to FY26E and maintain 'Buy' with a revised target price of Rs 586 (earlier Rs 445), assigning 26 times enterprise value/ Ebitda to FY26E..Click on the attachment to read the full report:.Indian Hotels Shares Hit Record After Q3 Profit Beats Estimates.This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Indian Hotels Q3 Results Review - Yet Another Best Ever Quarter: IDBI Capital

For Q3 FY24, average room rate, occupancy and RevPAR stood at Rs 12,550, 72% and Rs 9,050 respectively.

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Indian Hotels Q3 Results Review - Yet Another Best Ever Quarter: IDBI Capital

For Q3 FY24, average room rate, occupancy and RevPAR stood at Rs 12,550, 72% and Rs 9,050 respectively.

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