ITC Hotels Limited reported a 52.0% rise in consolidated profit for the quarter ended Sept. 30, though acquisitions broadened its reporting base and complicate the comparison with a year earlier.
Profit reached ₹202.65 crore, compared with ₹133.29 crore a year earlier. Revenue from operations rose 25.6% to ₹1,054.14 crore from ₹839.48 crore, the company’s unaudited results filed with the BSE showed.
Subtracting expenses other than depreciation, amortization and finance costs from revenue from operations puts earnings before interest, taxes, depreciation and amortization (EBITDA) at ₹337.45 crore, up from ₹245.75 crore. On that basis, the EBITDA margin widened to 32.0% from 29.3%.
Revenue in the Hotels segment grew to ₹966.25 crore from ₹822.80 crore, while its segment result rose to ₹205.86 crore from ₹140.64 crore. Branded Residences generated ₹71.10 crore in revenue and a ₹22.93 crore segment result, compared with a ₹0.40 crore segment loss a year earlier.
The consolidated figures include Kerala Luxury Resorts Private Limited, formerly Zuri Hotels and Resorts Private Limited, from May 19, and GHK Hospitality & Infrastructures Limited from Sept. 1. ITC Hotels said the additions make its results less directly comparable with earlier periods. EconoTimes had previously reported that ITC Hotels was scheduled to review its second-quarter results on Oct. 26.
NDTV Profit reported that ITC Hotels shares were up 2.53% at ₹160.20 at 4:11 a.m. ET (08:11 UTC) on Oct. 26.
