The stock of Indian Hotels Company, the country's largest listed hospitality chain, was up 4.6 per cent in trade on Thursday, even as it posted weaker-than-expected March quarter results the previous evening. The stock gained another 6 per cent over the next two sessions, taking the post-results gain to over 10 per cent. These gains are in hopes of strong growth in room revenues and occupancies as recovery takes hold in FY23.
Cost rationalisation efforts, coupled with improved volumes, are expected to result in higher profitability. In addition to improved operational performance, equity infusion and divestment of non-core assets would help the company scale up, while keeping debt levels in control.
While growth metrics should improve as the leisure segment and business travel pick up, the company's March quarter (Q4) performance was weaker than expected. The impact of the Omicron variant was more pronounced on revenues than what the Street was working with. While revenues were up by 42 per cent over the year-ago quarter, on a sequential basis, they were 21 pe cent lower.
Diese Geschichte stammt aus der May 03, 2022-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der May 03, 2022-Ausgabe von Business Standard.
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