Indian Hotels Company Ltd’s stock surged over 6% on Friday morning, hitting a 1-year-high level. The company released its fiscal year (FY) 2024-24 Q2 (July-September) earnings after market hours on Thursday. Analysts noted that Indian Hotels’ Q2 results exceeded expectations.

On Friday, The company’s share price opened at Rs 709.95 apiece on the BSE, marking a rise of over 3% from its previous close of Rs 683.60. The stock then continued to climb, reaching an intraday peak of Rs 727, which is also its highest level in 52-weeks. The intraday low for the stock stood at Rs 694 apiece, as of now.

Indian Hotels’ stock has surged 65% year-to-date. This is fuelled by an upbeat earnings outlook driven by rising occupancy, steady room rates, and strategic expansions.

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Indian Hotels Quarterly Results

Indian Hotels company has reported a significant surge in consolidated net profit to Rs 582.71 crore for the quarter ending September 30, 2024. The company’s net profit stood at Rs 178.97 crore in the same quarter of the previous year. The company also reported an earning increase with its total income rising to Rs 1890.22 crore in Q2FY25, up from Rs 1480.87 crore in Q2FY24.

The total expenses of the company for Q2FY25 were Rs 1502.01 crore. It was Rs 1248.68 crore in Q2FY24.

Talking about the standalone quarterly results, the company reported a net profit of Rs 254.46 crore for the quarter ending September 30, 2024. The company’s net profit stood at Rs 157.22 crore in the same quarter of the previous year. The company standalone total income was Rs 1,125.30 crore in Q2FY25, up from Rs 948.82 crore in Q2FY24.

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