ITC Hotels on Thursday reported a consolidated net profit of ₹180.2 crore for the first quarter of FY27, registering a growth of 35.5% from ₹133.10 crore in the year-ago period.
The company’s revenue from operations in Q1FY27 grew 14.8% to ₹936.02 crore from ₹815.54 crore, year-on-year (YoY).
At the operating level, ITC Hotels’ earnings before interest, tax, depreciation and amortization (EBITDA) during the June quarter increased 19.6% to ₹292.3 crore from ₹244.5 crore, while EBITDA margin improved to 31.2% from 30%, YoY.
GHK Hospitality Acquisition
In a separate regulatory filing, ITC Hotels announced the acquisition of a 100% stake in GHK Hospitality & Infrastructures Limited at an enterprise value of ₹155 crores on a cash-free, debt-free basis.
The investment in GHK shall be made through primary subscription and secondary purchase of equity shares of GHK.
GHK is a public limited company having its registered office in Ahmedabad, India. It is engaged in the hospitality business and owns a hotel named, ‘Welcomhotel Ahmedabad’ with 130 keys.
At 2:30 PM, ITC Hotels share price was trading 4.71% lower at ₹174.85 apiece on the BSE.
