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Indian Hotels shares tumble 4% after company posts Q3 profit at Rs 633 crore

Tata Group-backed Indian Hotels Company (IHCL) shares fell as much as 3.9% on Monday to Rs 782.20 on the BSE after the company reported a profit after tax of Rs 633 crore for the quarter ended December, up 33% compared to the corresponding period of the previous fiscal.The company posted revenues of Rs 2,592 crore for the quarter under review, up 29% year-on-year. For the nine months ended December 31, the chain reported revenues of Rs 6,078 crore, up 22% year-on-year. The chain posted a profit after tax of Rs 1,475.4 crore for the nine months ended December 31, up 65.4% year-on-year.IHCL MD and CEO Puneet Chhatwal said in line with its new Accelerate 2030 strategy, IHCL has set a new ‘growth benchmark’ with 55 signings and 20 openings to date this fiscal and 85% of these signings are

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