Net profit of Indian Hotels Co rose 11.67% to Rs 248.39 crore in the quarter ended June 2024 as against Rs 222.44 crore during the previous quarter ended June 2023. Sales rose 5.72% to Rs 1550.23 crore in the quarter ended June 2024 as against Rs 1466.37 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales1550.231466.37 6 OPM %29.0027.97 - PBDT445.78402.99 11 PBT328.49293.94 12 NP248.39222.44 12 Powered by Capital Market - Live News

The Board of Indian Hotels Co (IHCL) at its meeting held on 19 July 2024 has approved the transfer of restaurant business of its wholly owned overseas subsidiary i.e. Taj International Hotels (TIHL) to St James Court Hotels, a subsidiary of the company. The proposed restructuring will simplify the operational/ legal/ tax structure. As this is a common control transaction, this will not have any accounting implication in IHCL. IHCL`s investment in TIHL and SJCH is held through IHOCO BV, Netherlands, a wholly owned subsidiary of IHCL.The Board also approved amendment to the Subscription cum Shareholders Agreement (SSHA) by execution of amendment Agreement between the Company, SATS (SATS) and Taj SATS Air Catering (Taj SATS).The amendment to the SSHA is proposed to be entered into to modify certain rights of both shareholders in aspects of running the day-to-day affairs of Taj SATS without any changes made to the shareholdings of IHCL and SATS in the equity of Taj SATS. In addition, area of focus demarcated between Taj SATS and a subsidiary of SATS in India. Under Indian Accounting Standards (IndAS), based on evaluation of �control�, Taj SATS will now be accounted as a subsidiary of IHCL instead of as a joint venture from the date of execution of the amended SSHA.Powered by Capital Market - Live News

Indian Hotels Company will hold a meeting of the Board of Directors of the Company on 19 July 2024.Powered by Capital Market - Live News

Indian Hotels Company announced that the 123th Annual General Meeting(AGM) of the company will be held on 14 June 2024.Powered by Capital Market - Live News

Indian Hotels Co (IHCL) announced a strategic partnership with CG Hospitality, extending its current association of TAL Hotels & Resorts and Taj Safaris to achieve a portfolio of 25 hotels by 2025. Ekyam, the platform will primarily pursue opportunities in destinations that offer adventure experiences across the Indian Ocean and Greater Himalayan regions and wildlife escapes. Speaking on the occasion, Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL said, �IHCL has a long-standing association with CG Hospitality, a member of the renowned CG Corp Global for over two decades. We are delighted to announce that the next phase of this partnership will pursue accelerated growth in the Indian Subcontinent. This collaboration under the platform - Ekyam, will explore opportunities to manage hotels across regions around the Himalayas as well as Indian ocean and strengthen the wildlife sector.� The current operating footprint in the Indian Sub-Continent and Middle East includes Taj Exotica Resort & Spa, Taj Coral Reef Resort & Spa in Maldives, Taj Samudra, Colombo, Sri Lanka, Taj Jumeirah Lakes Towers, Dubai and Taj Safaris, the wildlife luxury lodges in India and Nepal.On this occasion, Rahul Chaudhary, MD of CG Hospitality, said, `The platform will commence with the current portfolio of 11 operating hotels. CG Hospitality has invested over INR 1,250 crores in the operational and upcoming hotels thus far and is committed to onboard 14 more hotels under this partnership.�Taking forward the vision, Ram Maheshwari, Vice President Commercial will lead the platform to a portfolio of 25 hotels with 2,500 rooms by 2025. Powered by Capital Market - Live News