ITC Hotels Sees 74% Surge in Q2 Profit After Demerger

ITC Hotels announced a remarkable 74% increase in its consolidated net profit for the second quarter, ending September, reporting Rs 133.29 crore. This comes amid higher operational revenue post its demerger from ITC Limited, a strategic move undertaken earlier this year.

The hotel chain's revenue hit Rs 839.48 crore during the quarter, a rise from Rs 777.95 crore in the same period last year. This boost in revenue underscores the company's positive performance trajectory despite marginally higher total expenses, which increased to Rs 699.72 crore.

In a further development, the company elevated Sudhir Gupta, the erstwhile Head of Procurement, to the role of Vice President - Procurement in senior management, as per their regulatory filing.