The Indian Hotels Company Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
INDHOTEL · price
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Indian Hotels Company (IHCL, the Tata group hospitality firm behind Taj, Vivanta and SeleQtions brands) reported healthy growth for Q2 and the first half of FY26. Consolidated revenue from operations rose about 11.7% year-on-year to ₹2,04,089 lakhs in Q2, and about 20.9% to ₹4,08,197 lakhs for the half-year, helped by strong hotel services and a full-period contribution from the air catering business (Taj SATS). Profit before tax and exceptional items grew roughly 16.6% to ₹45,271 lakhs in Q2 and 24.5% to ₹89,253 lakhs in H1, showing solid operating momentum. There were no exceptional items in the current period, unlike a ₹30,736 lakh one-time gain in the base year from the Taj SATS consolidation, which makes the headline PAT comparison look weaker. Standalone numbers also improved, with H1 revenue up about 7% and H1 profit after tax up about 15% to ₹53,370 lakhs. The statutory auditor B S R & Co. LLP issued an unqualified limited review report.
Underlying business performance is clearly improving, with double-digit revenue growth and strong profit growth before one-offs, which is positive for shareholders. However, reported PAT and EPS appear lower than last year only because the base period included a large one-time gain, so this is a comparison effect rather than weakness in operations.