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Benares Hotels records 44 per cent increase in PAT in Q1 FY2019-20

Benares Hotels (BHL), a subsidiary of The Indian Hotels Company (IHCL), reported healthy growth in revenue for the quarter ended June 2019, increasing from Rs.10.3 cr in the previous year to Rs.11.8 cr in the current year. This was driven by an improvement in the Average Room Rates (ARR’s) which grew by nine per cent. EBITDA for the quarter increased by 26 per cent. The Profit after Tax (PAT) grew YOY by 44 per cent from Rs 0.26 cr to Rs 0.38 cr.

Speaking about the company’s performance, Dr Anant Narain Singh, chairman, Benares Hotels BHL said, “The Company has delivered an excellent performance for the first quarter ending 30th June 2019 of the current financial year.”

BHL is a listed public limited company incorporated in 1971. The company operates its hotels, viz. Taj Ganges Varanasi and Taj Nadesar Palace in Varanasi and The Gateway Hotel, Gondia in Maharashtra. The company became a subsidiary of IHCL in 2011. While Taj Ganges Varanasi and Taj Nadesar Palace at Varanasi have 140 rooms and suites, The Gateway Hotel at Gondia has 34 rooms.

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