ITC Hotels stock jumps nearly 5 pc post Q1 earnings

New Delhi, Jul 16 (PTI) Shares of ITC Hotels Ltd on Wednesday surged nearly 5 per cent after the firm reported a 53 per cent jump in consolidated net profit.
     The company's stock climbed 4.49 per cent to settle at Rs 238.50 apiece on the BSE. Intra-day, it surged 7.11 per cent to Rs 244.50 -- the 52-week high level.
     On the NSE, it went up by 4.64 per cent to Rs 238.90.
     ITC Hotels Ltd on Wednesday reported a 53 per cent jump in consolidated net profit to Rs 133.71 crore in the June quarter, on the back of higher revenue.
     The company, which had posted a consolidated net profit of Rs 87.16 crore in the first quarter last fiscal, said it is targeting to reach 220 operational hotels and more than 20,000 keys by 2030.
     Consolidated revenue from operations in the April-June quarter stood at Rs 815.54 crore against Rs 705.84 crore in the corresponding period a year ago, ITC Hotels said in a regulatory filing.
     Total expenses in the quarter under review were higher at Rs 674.97 crore compared to Rs 596.41 crore in the same period last fiscal.
     In the first quarter, room revenues delivered strong growth driven by superior performance across retail, MICE and wedding segments, ITC Hotels said in a statement.

(This story has not been edited by THE WEEK and is auto-generated from PTI)