ITC Hotels profit jumps 35% to Rs 180 crore; buys GHK Hospitality for Rs 155 crore
ITC Hotels posted Q1 net profit of Rs 180.25 crore, up 35.42% YoY, on revenue of Rs 936.02 crore (up 14.77%). It signed a deal to acquire 100% of GHK Hospitality for an enterprise value of Rs 155 crore, expanding its owned portfolio in Ahmedabad. Shares fell 5.06% to a low of Rs 174.20.
ITC Hotels posted 35% YoY profit rise to Rs 180 crore and signed an agreement to acquire 100% of GHK Hospitality for Rs 155 crore, expanding its owned portfolio in Ahmedabad. Shares fell 5%.