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ITC Hotels reported a 74% jump in net profit to INR 133.29 crore for the quarter ended September, up from INR 76.63 crore last year, driven by higher operational revenue of INR 839.48 crore. The company, recently demerged from ITC Limited, said demand growth was supported by domestic travel, evolving consumer trends, and government focus on tourism. Despite temporary monsoon-related softness, business rebounded in September. ITC Hotels also unveiled its new luxury brand, Epiq Collection, with upcoming projects in Puri and Tirupati, adding around 1,000 rooms in the medium term. With 146 operational hotels and 61 under development, ITC Hotels remains focused on premiumisation and long-term expansion.
ITC Hotels announced earlier this week that its consolidated net profit for the second quarter ended September had risen by nearly 74 per cent to INR 133.29 crore, compared with INR 76.63 crore in the corresponding period last year. The rise was attributed to higher revenue from operations, which reached INR 839.48 crore during the quarter, up from INR 777.95 crore in the year-ago period. Advertisement
The company, which was listed on the stock exchanges earlier this year following its demerger from ITC Limited, stated that the hospitality sector remains on a strong growth trajectory, driven by increased domestic travel, changing consumer trends, and government emphasis on tourism infrastructure.
In its statement, ITC Hotels indicated that the outlook for the second half of the financial year remained positive, supported by firm fundamentals and increased discretionary spending. It further noted that recent policy interventions, such as GST rate rationalisation and monetary easing, were expected to stimulate consumer demand in the coming quarters.
The company, however, cautioned that supply constraints in the hospitality sector could persist over the medium to long term, with demand in premium and leisure segments continuing to exceed available inventory. It added that the quarter had seen temporary softness due to seasonal factors, including heavy monsoon rains in July and August, which had curtailed travel and leisure activities, and a limited number of auspicious dates, which affected the wedding segment. Nonetheless, demand revived in September with longer weekends and early festive travel, reinforcing the sector's overall resilience.
In a move to expand its premium offerings, ITC Hotels announced the launch of a new luxury brand, Epiq Collection - Member ITC Hotels Group. The company described this addition as a strategic step in its premiumisation journey, aimed at converting high-quality hotels and developing new owned and managed properties. The first Epiq Collection projects are currently being developed in Puri and Tirupati. ITC Hotels mentioned that the new brand is expected to add around 1,000 keys over the medium term, further strengthening its luxury presence across India.
As of now, ITC Hotels operates 146 properties and has 61 more in the development pipeline, bringing its total portfolio to 207 hotels. Total expenses during the reviewed quarter increased slightly to INR 699.72 crore, compared with INR 671.29 crore in the corresponding period of the previous year.
In a related update, the company announced the promotion of Sudhir Gupta, previously Head - Procurement, to the role of Vice President - Procurement (Senior Management).
ITC Hotels' strong quarterly performance reflects the sector's sustained recovery and the company's strategic focus on premiumisation. Despite short-term seasonal disruptions, the rebound in travel demand and continued government support for tourism indicate a favourable long-term outlook. The introduction of Epiq Collection underlines ITC Hotels' commitment to expanding its luxury segment and strengthening its position as a key player in India's evolving hospitality landscape.
Source - PTI
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