ITC Hotels on Tuesday reported a 9.64% rise in consolidated net profit to Rs 236.83 crore for the third quarter ended December on higher revenue. The company had earned a net profit of Rs 216 crore a year ago.
During the quarter under review, ITC Hotel's revenue from operations stood at Rs 1,230.68 crore compared to Rs 1,015.40 crore, a regulatory filing showed.
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Its total expenses shot up to Rs 870.02 crore in the third quarter from Rs 740.41 crore reported for the same period of the last financial year.
Under the exceptional items, the hospitality firm estimated a one-time impact of Rs 55.42 crores on account of the Ministry of Labour & Employment bringing into force new labour codes in November last year.
The group said it continues to monitor the finalisation of rules by the government and other related aspects of the New Labour Codes and will appropriately account for such changes, if required.
It also estimated a net loss of Rs 28.58 crore on account of inventory damaged due to Cyclone Ditwah in Sri Lanka, for which an insurance survey is in process.
In a statement, ITC Hotels said it is partnering with asset owners to widen its reach in Tier-II and Tier-III cities on the back of rising demand for premium hospitality offerings.
During the quarter, the company expanded its footprint by opening new hotels in Bodh Gaya, Rishikesh, Siliguri, Sirmaur, Dungarpur and Jaipur.
In 2025, the company signed 28 hotels with 2,790 keys (growth of 26 per cent over the previous year). It also achieved the milestone of crossing 150 operational hotels with over 14,000 keys during the third quarter.
"Recent policy measures, including GST rate rationalisation and monetary easing, are expected to sustain discretionary consumer spending in the near term. The structural supply-demand imbalance in the hospitality sector is likely to persist in the medium to long term, with demand, particularly in premium and leisure segments, continuing to outpace available inventory.
"Going forward, the industry outlook remains positive, supported by sustained consumption trends, positive market sentiment, and broad-based growth across segments," ITC Hotels stated.
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(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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