The Indian Hotels Company Limited posts consolidated loss of Rs. 230.01 crore in Q2FY21

INDIAN HOTELS CO.LTD. has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.323.54 crores during the period ended September 30, 2020 as compared to Rs.175.34 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.(230.01) crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.(279.92) crores for the period ended June 30, 2020.

The company has reported EPS of Rs.(1.93) for the period ended September 30, 2020 as compared to Rs.(2.35) for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 323.54 crs	₹ 175.34 crs	84.52%
Net Profit	₹ (230.01) crs	₹ (279.92) crs	-17.83%
EPS	₹ (1.93)	₹ (2.35)	-17.87%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.323.54 crores during the period ended September 30, 2020 as compared to Rs.1028.57 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.(230.01) crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.71.31 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.(1.93) for the period ended September 30, 2020 as compared to Rs.0.60 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 323.54 crs	₹ 1028.57 crs	-68.54%
Net Profit	₹ (230.01) crs	₹ 71.31 crs	-422.55%
EPS	₹ (1.93)	₹ 0.60	-421.67%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.498.88 crores during the 6 months period ended September 30, 2020 as compared to Rs.2085.63 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.(509.93) crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.76.97 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.(4.29) for the 6 months period ended September 30, 2020 as compared to Rs.0.65 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 498.88 crs	₹ 2085.63 crs	-76.08%
Net Profit	₹ (509.93) crs	₹ 76.97 crs	-762.5%
EPS	₹ (4.29)	₹0.65	-760%

Commenting on the Q2 performance, Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, said, "The pandemic is an unprecedented event that has impacted the economy significantly, especially the travel and tourism sector. Though a gradual recovery is visible, it will take time to reach prepandemic levels in this uncertain environment. At IHCL, all our efforts are focused in executing the R.E.S.E.T 2020 strategy committed to creating alternative revenue growth avenues, expanding its portfolio using an asset light framework, driving cost optimization and continuing to deliver value to all our stakeholders."

The implementation of R.E.S.E.T 2020, a comprehensive five-point strategy, has provided a transformative framework to help the Company overcome COVID-19 related challenges, and has yielded positive results in the first half of FY 2020-21.

Mr. Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL, said, "IHCL has taken several measures to mitigate the financial impact on both profits and cash flow in recent months. With the ease of lockdown restrictions, we are seeing gradual signs of improvement in the second quarter; however full recovery will take some time."

Shares of INDIAN HOTELS CO.LTD. was last trading in BSE at Rs.96.5 as compared to the previous close of Rs. 96.3. The total number of shares traded during the day was 93648 in over 1638 trades.

The stock hit an intraday high of Rs. 97.5 and intraday low of 95.25. The net turnover during the day was Rs. 9023074.

Source : Equity Bulls

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