Q2 profit rises 74%; Board recommends 2 percent employee share plan
ITCHOTELS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.6 pts more than Nifty Midcap 150 and 1.2 pts more than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Consolidated Q2 revenue from operations rose 7.9 percent to Rs 839.48 crore, while profit after tax jumped 73.9 percent to Rs 133.29 crore from Rs 76.63 crore. H1 revenue was Rs 1,655.02 crore and profit after tax Rs 267 crore, up about 63 percent. The Board recommends a new employee share reward plan covering up to 2 percent of paid-up capital, subject to shareholder approval. Auditors gave an unmodified review.
Profit growth supports sentiment, but the proposed employee share plan may dilute existing holders by up to 2 percent if approved and used.