Shares of Indian Hotels Company (IHCL), backed by the Tata Group, dropped 2% to their day's low of Rs 719 on the BSE on Wednesday after the hotel chain reported a 18.5% year-on-year rise in net profit to Rs 390 crore in the first quarter of FY27.
IHCL MD and CEO Puneet Chhatwal said Q1 FY27 marked the company's 17th consecutive best-ever quarter. EBITDA rose to Rs 753 crore, while the EBITDA margin expanded by 80 basis points to 31.1%. He attributed the steady performance to IHCL's diversified portfolio of brands and businesses, which helped offset macroeconomic headwinds.
