ITC Hotels Ltd, created after the demerger of the hospitality business from ITC Ltd, reported a 40.3 per cent rise in consolidated net profit at ₹257.85 crore in the March quarter on the back of higher revenues.

The company, which was listed in January, posted a consolidated net profit of ₹183.71 crore in the same quarter of FY24. Consolidated revenue from operations during the quarter stood at ₹1,060.62 crore against ₹907.31 crore in the year-ago period, an increase of 16.9 per cent.

The company witnessed a buoyant occupancy level of 79 per cent, and revenue per available room — a performance matrix in the hospitality sector — grew 17 per cent.

For the full year, consolidated net profit stood at ₹637.64 crore compared with ₹423.87 crore in FY24. Consolidated revenues from operations were at ₹3,559.81 crore compared with ₹2,224.4 crore in FY24.

ITC Hotels, which is operating 140 properties with over 13,300 rooms, under six different brands such as ITC Hotels, Mementos, Fortune and WelcomHeritage, among others, also announced an upcoming 200-key property in Visakhapatnam for ₹328 crore.

The company, which is pursuing an ‘asset right’ strategy — a mix of owned hotels, management contracts and franchise agreements — said it has a robust pipeline of 50 hotels with 4,500 keys. The company is targeting a portfolio of 220 operational hotels with 20,000 rooms by 2030.

One of the highlights of the quarter and the second half of FY25 was the operational breakeven of ITC Ratnadipa in Colombo, its first overseas property, which turned EBIDTA positive from the quarter ended December 2024.