Indian Hotels: Despite cost cuts, low occupancies make operations unviable

The March quarter (Q4) performance of Indian Hotels was largely in line with estimates. However, the company is expected to face severe challenges in the near term. The extent of impact of the Covid-led disruption may be gauged from the firm’s showing in the first two months of Q4, as compared to the decline in March. Though consolidated revenues in January and February rose 2 per cent over the year-ago period, they fell 48 per cent in March. The firm sustained an operating loss for March at Rs 27 crore, compared to Rs 273 crore in operating profit for the first two months of the y.....

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