Shares of ITC Hotels, one of India's largest hospitality chains, jumped nearly 6 percent, extending their rally for the second day on Tuesday, 27 October, after the company reported strong earnings for the July-September quarter (Q2FY27), driven by robust revenue growth across its hotels and branded residences segments. Meanwhile, brokerages remained positive on the stock, citing strong demand, improving margins and an expanding hotel portfolio.
ITC Hotels shares opened at Rs 168.65 and rallied 5.67 percent to an intraday high of Rs 174.30, compared with previous closing of Rs 164.40, on the BSE. The stock, at around 11.21 am, was trading 1.76 percent higher at Rs 167.30.
Shares of ITC Hotels jumped as much as 7.8 percent to Rs 168.5 after the results announcement on Monday, before trimming some gains to trade 5 percent higher.
ITC Hotels Ltd reported a 52.03 percent rise in its consolidated net profit to Rs 202.65 crore for the quarter ended September. The hospitality sector player had posted a net profit of Rs 133.29 crore during the corresponding July-September (Q2) period of the previous financial year.
During the reporting quarter, ITC Hotels' revenue from operations increased to Rs 1,054.14 crore from Rs 839.48 crore a year ago. The company's total expenses also rose to Rs 831.33 crore from Rs 699.72 crore a year ago.