ITC Hotels Shares Dip 5% on Q1 Profit Drop; Announces Rs 155 Cr Ahmedabad Acquisition

tels witnessed a 5% drop in its share price following the release of its first-quarter financial results, which revealed a sharp 43% sequential decline in net profit compared to the previous quarter. The quarter-on-quarter dip reflects seasonal headwinds and shifting operational dynamics within the hospitality sector. Despite the temporary earnings slowdown, the company is actively pushing forward with its long-term growth strategy. Alongside the financial results, ITC Hotels announced the strategic acquisition of GHK Hospitality & Infrastructures for an enterprise value of Rs 155 crore. This move is aimed at significantly strengthening the company's footprint and premium property pipeline in the rapidly growing hospitality hub of Ahmedabad.