Indian Hotels Company Limited (IHCL) reported a 29 per cent increase in net profit to ₹582 crore in the third quarter of FY25 year-on-year.

In the same quarter last year IHCL posted a net profit of ₹452 crore.

While the hotel segment grew by 16 per cent, overall revenue rose by 29 per cent to ₹2,592 crore following the consolidation of the air catering business.

IHCL properties also receive a revenue boost due to strong leisure demand and weddings. In the past nine months, the chain has opened 20 new hotels – eight of those in 

December-end quarter, and this contributed to the top line. Management fee income rose 32 per cent to ₹177 crore on a year-on-year basis.

The company continues to focus on a capital-light growth strategy, with 85 per cent of 55 signings in the current fiscal year under that model. IHCL is targeting to grow its portfolio from 360 to 700 by 2030.

“In Q4 and the subsequent quarters of the next financial year, the sector will continue to witness demand buoyancy on account of large-scale regional events, weddings and sustained transient travel,” IHCL managing director & CEO Puneet Chhatwal said in a statement.