For the fiscal ended March 2021, the hospitality main posted a net loss of Rs 795.63 crore. It had registered a net revenue of Rs 363.74 crore within the previous fiscal, the submitting stated.
The consolidated income from operations for the fiscal ended March this 12 months stood at Rs 1,575.16 crore. It was Rs 4,463.14 crore within the year-ago interval, it added.
For FY21, the Board of Directors have really useful an fairness dividend of 40 per cent amounting to Rs 0.40 per share, the submitting stated.
“Despite continued pandemic related challenges that have impacted the travel and hospitality sector, IHCL has remained laser-focused on executing its R.E.S.E.T 2020 strategy,” IHCL MD and CEO Puneet Chhatwal stated.
The firm has developed progressive income streams to fulfill evolving buyer wants and have adopted stringent spend optimisation and monetary prudence measures, he added.
“These initiatives helped the company achieve quarter-on-quarter growth and deliver a positive EBITDA in the last two-quarters of FY 2020-21. The company will continue to evolve to cater to dynamic market trends, with agility at its core,” Chhatwal stated. IHCL Executive VP and CFO Giridhar Sanjeevi stated, “Our relentless deal with efficiency, administration of operational prices and persevering with efforts to strengthen liquidity has helped IHCL survive by this extraordinarily difficult section, and we’ll proceed our a number of efforts to proceed to develop and be worthwhile”.
In a separate submitting, IHCL stated its Board immediately authorised elevating of long-term funds not exceeding Rs 275 crore by manner of exterior industrial borrowings, overseas foreign money borrowings, non-convertible debentures, time period loans or by some other debt instrument in a number of tranches.
The Board additionally authorised a committee to find out and approve the quantum, timing and phrases and circumstances of the instrument to be issued, it added.
IHCL has a portfolio of 221 accommodations, together with 55 underneath growth globally throughout 4 continents, 12 international locations and over 100 areas.
Shares of Indian Hotels Company Ltd closed at Rs 111.45 per scrip on BSE, up 0.81 per cent from its earlier shut.