Tata Group: The profit of this company of Tata Group crossed 1,000 crores for the first time, there was a loss last year – tata group backed indian hotel company recorded highest ever profit
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Puneet Chatwal, MD & CEO, IHCL said that the profit made by the company last year is more than the combined profit of the three best financial years. The combined profit of the company in the financial years 2006, 2007 and 2008 was Rs 974 crore. He said that in the financial year 2023, the company achieved many achievements. This includes highest revenue, all time high and highest EBITDA margin in the industry with profit above Rs 1000 crore. For the first time in its history, the company has earned more than Rs 1000 crore profit.
It was established 123 years ago
Chatwal said that the company has made record profits for four consecutive quarters due to sustained demand. The number of IHCL hotels has crossed 260. The company’s hotels are spread across 31 states and union territories of the country. The company was established in 1899 by Jamsetji Tata, the founder of the Tata Group. The company opened its first hotel (The Taj Mahal Palace) in Mumbai in 1903. The company’s stock was trading at Rs 343.90, up 1.18% at 11.20 am on Friday.
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