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EquityWireEarnings Review: Indian Hotels Q3 PAT YoY growth recovers to double digits
Earnings Review

Indian Hotels Q3 PAT YoY growth recovers to double digits

This story was originally published at 19:20 IST on 12 February 2026
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Informist, Thursday, Feb. 12, 2026

 

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--Indian Hotels Oct-Dec consol net profit INR 9.03 bln 
--Analysts saw Indian Hotels Oct-Dec consol net profit at INR 6.84 bln 
--Indian Hotels Oct-Dec consol revenue INR 28.42 bln 
--Analysts saw Indian Hotels Oct-Dec consol revenue at INR 28.17 bln 
--Indian Hotels Oct-Dec consol net profit INR 9.03 bln vs INR 5.82 bln yr ago 
--Indian Hotels Oct-Dec consol revenue INR 28.42 bln vs INR 25.33 bln yr ago 
--Indian Hotels Apr-Dec consol PAT INR 14.85 bln vs INR 13.85 bln yr ago 
--Indian Hotels Oct-Dec net profit includes one-time income INR 2.76 bln 
--Indian Hotels Apr-Dec consol revenue INR 69.24 bln vs INR 59.09 bln yr ago 
--Indian Hotels Oct-Dec new labour codes implementation cost INR 501.7 mln 
--Indian Hotels Oct-Dec consol EBITDA INR 11.34 bln, up 11% on year 
--Indian Hotels Oct-Dec consol EBITDA margin 39.1% 
--Indian Hotels signed 239 hotels, opened 120 hotels as on Dec 31 
--Indian Hotels Oct-Dec management fee income INR 2.03 bln, up 15% YoY 

 

By Arundathi A R

 

MUMBAI – The Tata group-owned Indian Hotels Co. Ltd.'s consolidated bottom line year-on-year growth recovered to high double-digits in the December quarter after falling in the trailing quarter. Its revenue for the quarter rose in the low double digits year-on-year, driven by strong same-store performance and growth in new business and in airline and institutional catering. Both the earnings metrics exceeded analysts' estimates for the December quarter. 

 

The hospitality company reported an over 55% on-year rise in its net profit to INR 9.03 billion in Oct-Dec. The net profit includes a one-time income of INR 2.76 billion. Its revenue from operations for the quarter rose over 12% on year to INR 28.42 billion. 

 

The company's total expenses rose almost in line with its year-on-year top-line growth in the December quarter. Indian Hotels reported total expenses of INR 19.72 billion, up over 12% year on year.

 

Employee benefits expenses and payments to contractors for the quarter rose nearly 11% on year to INR 6.42 billion. It reported nearly 11% on-year growth in food and beverage sales for the quarter, to INR 2.77 billion. The company said the implementation of the new Labour Codes will cost INR 501.7 million.

 

The hospitality company's consolidated earnings before interest, tax, depreciation, and amortisation for the December quarter were INR 11.34 billion, up 11% year on year. The EBITDA margin for the quarter was 39.1%.

 

The company continued its growth momentum in 2025–26 (Apr-Mar), signing 239 hotels to reach a portfolio of 617 hotels and opening and onboarding 120 hotels, led by strategic partnerships and acquisitions, the company said in its press release. The company entered into strategic acquisitions and partnerships with Clarks Group, Madison, Rajdarbar Group, Ambuja Neotia and the Atmantan brand, it said in the release. Its same-store hotels delivered a consolidated revenue per available room growth of 9%.

 

The company's air and institutional catering business segment, TajSATS, reported a revenue of INR 3.23 billion for the reporting quarter. Its new business vertical, comprising Ginger, Qmin, am Stays and Trails, and Tree of Life, posted an enterprise revenue of INR 3.16 billion, up 39% on year. Ginger's enterprise revenue stood at INR 2.32 billion, with a strong EBITDA margin of 47%. Qmin, the company's gourmet food delivery platform, has grown to 110 outlets across multiple formats, according to the press release.

 

Indian Hotels' Oct-Dec management fee income was INR 2.03 billion, up 15% on year, on the back of not-like-for-like growth.  The company expects its management fee to grow with openings of over 60 hotels in FY27, it said.

 

For the nine months ended December, the company's consolidated bottom line was INR 14.85 billion, up over 7% on year. Revenue from operations for the period was INR 69.24 billion, up from INR 59.09 billion in the year-ago quarter.  End

 

Edited by Saji George Titus

 

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