ITC Hotels Q1 net up 36% at Rs 181.91 crore

ITC Hotels reported a 36 percent year-on-year rise in consolidated net profit to Rs 181.91 crore for Q1, up from Rs 133.71 crore a year ago. Revenue from operations grew to Rs 936.02 crore from Rs 815.54 crore, while the hotel business vertical clocked Rs 881.06 crore in revenue. Separately, the board approved the acquisition of GHK Hospitality and Infrastructures at an enterprise value of Rs 155 crore to expand its owned-asset portfolio in Ahmedabad via the 130-key Welcomhotel Ahmedabad property.