The Indian Hotels Company Limited (IHCL) has announced its results for the third quarter of FY16. On a consolidated basis, the company has reported 8.5% YoY increase in sales and an 83.5% YoY decrease in net profit. Here is our analysis of the results.
Performance summary
Consolidated financials
(Rs m) | 3QFY15 | 3QFY16 | Change | 9MFY15 | 9MFY16 | Change |
---|---|---|---|---|---|---|
Net sales | 12,059 | 13,090 | 8.5% | 30,813 | 33,625 | 9.1% |
Expenditure | 9,696 | 10,430 | 7.6% | 27,490 | 29,283 | 6.5% |
Operating profit (EBDITA) | 2,363 | 2,660 | 12.6% | 3,323 | 4,342 | 30.7% |
Operating profit margin (%) | 19.6% | 20.3% | 10.8% | 12.9% | ||
Other income | 284 | 244 | -14.3% | 666 | 909 | 36.4% |
Finance cost | 440 | 816 | 85.5% | 1,345 | 1,725 | 28.2% |
Depreciation | 748 | 811 | 8.4% | 2,194 | 2,311 | 5.3% |
Exceptional Item | -173 | -534 | -302 | -207 | ||
Profit before tax | 1,287 | 743 | -42.3% | 148 | 1,008 | 581.9% |
Tax | 570 | 601 | 5.3% | 575 | 847 | 47.3% |
Profit after tax/(loss) | 716 | 142 | -80.2% | -427 | 161 | |
Minority interest | 126 | 73 | -42.4% | 244 | 244 | 0.1% |
Share of profit of associates | 19 | 31 | 69.2% | -36 | -5 | |
PAT after minority and sh. of asso. profit | 608 | 101 | -83.5% | -707 | -88 | |
Net profit margin (%) | 5.0% | 0.8% | -2.3% | -0.3% | ||
No. of shares (m) | 807.5 | |||||
Diluted earnings per share (Rs) | (3.9) | |||||
P/E ratio (x)* | N.A |
(* On a trailing 12 months basis)
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