ITC Hotels expands network with Ahmedabad buy, first quarter profit jumps 36 per cent

ITC Hotels acquired Welcomhotel Ahmedabad for Rs 155 crore, marking its second purchase in three months. The company also reported a 36 per cent jump in first quarter profit. Managing director Anil Chadha said, "Ahmedabad continues to be one of India's most dynamic commercial and industrial centres." Growth plans remain strong.