Hotel staff carry out sanitation work at Bukhara restaurant of ITC Maurya Hotel, in New Delhi, Friday.
Credit: PTI File Photo
Bengaluru: The new demerged entity - ITC Hotels Ltd on Thursday reported a consolidated net profit of Rs 257 crore for the January to March quarter (Q4) of financial year 2024-25 (FY25). This marks a 41% increase from its consolidated net profit of Rs 182 crore in Q4 FY24.
On a sequential basis, net profit rose by 19.5% from Rs 215 crore in Q3. The hotels business of ITC Limited was demerged into ITC Hotels Limited with effect from the start of the quarter on January 1.
The hospitality company’s consolidated revenue amounted to Rs 1,099 crore for the quarter, up 21% from the corresponding period of the previous fiscal. Much of this was generated by revenue from operations, which grew by 17% year-on-year (YoY) to Rs 1,061 crore. The remaining Rs 38 crore was attributed to other income. On a quarterly basis, revenue increased by 4.5%.
Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) came to Rs 412 crore, showing a rise of 28% YoY, ITC Hotels said in a regulatory filing.
Room revenues increased 16% YoY on the back of strong average daily rates (ADRs) at about Rs 15,000 (a 14% growth), as well as a steady occupancy level at 79%.
Its revenue per available room grew by 17%, while food and beverage revenues grew 12% on the back of event catering and growth across outlets.
“The company has a robust pipeline of 50 hotels with over 4,500 keys with high salience of brownfield assets and targets a portfolio of 220 operational hotels with over 20,000 keys by 2030,” it said in the filing.
The firm currently has about 140 properties in India and 13,300 keys (of which it owns 42% and manages 58%) under six distinct brands. It is also investing to scale up its portfolio of owned hotel rooms, it stated.