ITC Hotels Ltd. posted a 54% year-on-year jump in consolidated net profit to ₹133.7 crore for the quarter ended 30 June, bolstered by a 15% rise in revenue to ₹815.5 crore. Earnings before interest, tax, depreciation and amortisation climbed to ₹246 crore, lifting the EBITDA margin to 29.9% from 29.0% a year earlier. The board also cleared a capital-expenditure programme of ₹328 crore. Investors responded to the stronger-than-expected results by driving the stock up as much as 7% on Wednesday, to a record ₹241, the highest level since the company’s listing in January. The rally pushed the hotel operator’s market value to roughly ₹49.9 billion. The quarter marks ITC Hotels’ third set of results since its January demerger from parent ITC Ltd. Brokerage houses Jefferies and Macquarie reiterated their positive views after the release, each assigning a ₹270 price target, while maintaining “buy” and “outperform” ratings, respectively.