Indian Hotels Q2 Results Review - Inline Quarter On All Parameters: IDBI Capital
Despite Q2 is a seasonally weak quarter, the company reported impressive performance on operational metrics.
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IDBI Capital Report
Indian Hotels Company Ltd.’s Q2 FY23 result was in-line with our estimates on all key parameters. Despite Q2 is a seasonally weak quarter, Indian Hotels reported impressive performance on operational metrics.
As per management industry has witnessed upswing and business has come back to normal on domestic front and international business is expected to flow in from January, 23 onwards.
Net sales increased by 69.2% YoY to Rs 12.3 billion, while Ebitda came in at Rs 2.9 billion, a robust growth of 304% YoY. Net profit stood at Rs 1.2 billion in Q2 FY23.
The management reiterated focus to remain on strengthening earnings growth in near term. We have maintained our earnings estimates for FY23E/FY24E.
Given the robust growth outlook, we believe the stock is poised for valuation re-rating.
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