Benares Hotels Achieves PAT Growth Amid Revenue Decline in Q1 FY 2025

A subsidiary of The Indian Hotels Company Limited (IHCL), Benares Hotels Limited (BHL), announced its financial results for the quarter ended June 2024 in a stock exchange filing.

For Q1 FY 2025, the company reported a revenue of ₹24.35 crore, down by 6.73% compared to ₹26.11 crore in Q1 FY 2024. However, the Profit After Tax (PAT) for the quarter stood at ₹6.43 crore, reflecting a growth of 2.06% from ₹6.30 crore in the same period last year. The EBITDA for Q1 FY 2025 is ₹10.19 crore, compared to ₹10.04 crore in Q1 FY 2024.

Key highlights from the announcement included the recognition of Taj as India’s Strongest Brand across sectors for the fourth consecutive time and as the World’s Strongest Hotel Brand for the third time, according to Brand Finance. BHL boasts two Taj-branded hotels in its portfolio. Additionally, Taj Ganges received the “Traveller’s Choice Award” 2024, placing it among the top 10% of listings on TripAdvisor, while Taj Nadesar Palace earned the “Best of Best Award” 2024, awarded to the top 1% of listings.

The company stated the expansion of the Taj Ganges, which includes 100 new rooms, is well underway and is expected to launch in October 2025, further enhancing BHL’s offerings in the hospitality sector.

Commenting on the financial performance for the quarter, the Chairman of Benares Hotels Limited, Dr Anant Narain Singh, said, “Despite a muted revenue performance, quarter one clocked an EBITDA margin of 42%, a 300-basis points expansion over the previous year. With the upcoming wedding season and expected recovery of foreign tourist arrivals, the revenue outlook for quarters ahead remains strong.”

About Benares Hotels Limited

Benares Hotels Limited operates hotels, including Taj Ganges and Taj Nadesar Palace in Varanasi, as well as Ginger in Gondia, Maharashtra. In 2011, the company became a subsidiary of The Indian Hotels Company Limited.

On July 16, 2024, the share price of Benares Hotels Ltd opened at ₹8551.00, touching the day’s low at ₹8350.05, as of 10:28 AM on the BSE.

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