New Delhi, July 18 -- Even with turbulence in the skies and disruptions on the ground, The Indian Hotels Co. Ltd managed to steer through Q1FY26 with stable growth, though not without a few bumps in the margins.

The company reported a 32% year-on-year growth in consolidated revenue to Rs.2,041 crore for the June quarter (Q1FY26), broadly in line with analysts' expectations. The consolidation of TajSATS airline catering business from August benefitted growth.

Excluding TajSATS, revenue growth stood at a decent 13%, despite operational headwinds such as Operation Sindoor, flight disruptions and broader geopolitical events.

These headwinds, along with an early wage hike implemented in Q1, weighed on profitability. The company's Ebitda mar...