GQG Partners Sells ₹197 Crore Stake in ITC Hotels Through Block Deal

GQG Partners has reduced its stake in ITC Hotels Ltd by selling 1.3 crore shares through a block deal. The transaction, executed on April 8, was valued at ~₹197 crore.

The shares were sold at an average price of ₹152.67 per share. The block deal represents around 0.62% of the company’s total equity. As of December 2025, GQG Partners held close to a 2% stake in ITC Hotels. The identity of the buyers involved in the block deal has not been disclosed.

Strong Profit Growth in the Third Quarter

ITC Hotels recently reported strong financial performance for the third quarter, with net profit increasing significantly compared to the same period last year. The company’s net profit rose by 77% to ₹235 crore, up from ₹133 crore in the corresponding quarter of the previous year.

The company achieved this growth despite accounting for certain exceptional items during the quarter. One such item included a one-time estimated impact of ₹55.42 crore related to the implementation of new labour codes.

Another exceptional factor was a net loss of ₹28.58 crore resulting from inventory damage caused by Cyclone Ditwah in Sri Lanka. The insurance survey related to this damage is currently in progress.

Revenue and EBITDA Performance

Revenue for the quarter grew strongly, reaching ₹1,231 crore compared to ₹839.5 crore in the same period last year. This represents a year-on-year growth of about 47%, reflecting improved business performance and demand in the hospitality sector.

Earnings before interest, tax, depreciation and amortisation (EBITDA) also recorded significant growth. EBITDA rose nearly 90% to ₹467 crore from ₹245.5 crore in the year-ago period.

The company’s EBITDA margin expanded notably to 38%, compared with 29.2% in the previous year’s quarter, indicating improved operational efficiency.

ITC Hotels Share Price Today

On April 9, 2026, ITC Hotels share price opened at ₹151.97, touching the day’s high at ₹154.90, as of 11:50 AM on the NSE.

Also Read: ITC Share Price in Focus as New Cigarette Tax Kicks In; Stock Sees Worst January Ever!

Conclusion

The block deal by GQG Partners comes at a time when ITC Hotels is reporting strong operational and financial growth. Despite certain one-off impacts during the quarter, the company has demonstrated robust revenue and profit expansion, reflecting the ongoing recovery and growth in the hospitality industry.

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