EIH Hotels quarter 4 net profit jumps to Rs. 33.16 crore

EIH Hotels, which runs a chain of hotels and resorts under the Oberoi brand, on Friday reported 66.46 per cent increase in consolidated net profit to Rs 33.16 crore in the fourth quarter ended March 31.
The company has been posted a consolidated net profit of around Rs 19.92 crore in the same quarter previous fiscal, EIH Hotels told in a regulatory filing as well.
Hospitality major EIH, that runs hotels and also resorts under Oberoi and Trident brands, that today reported around 77.91 per cent rise in standalone net profit to around Rs 50.67 crore for the fourth quarter ended 31st March, 2017. The company had posted a net profit of Rs 28.48 crore for the corresponding period of previous fiscal, EIH Ltd said in a BSE filing.


However, standalone total revenue of the company saw a dip to Rs 416.38 crore for the quarter under consideration as against Rs 440.09 crore for the same period year ago. For the fiscal year ended March this year, the net profit of the company stood at Rs 96.53 crore. It was Rs 109.02 crore for the year-ago fiscal.


EIH Hotels

Consolidated revenue from the operations during the quarter under review which stood at around Rs 410.44 crore as compared to around Rs 503.45 crore in the year-ago period, as it added. For 2019-2020, the company told its consolidated net profit was at around Rs 165.14 crore as against of Rs 148.96 crore in 2018-2019. Consolidated revenue from the operations for FY20 was at around Rs 1,596.25 crore as compared to around Rs 1810.82 crore in FY19,as it told. In a separate filing, EIH Ltd told the consequences of COVID-19 outbreak time on its business for the financial year ended 31st March, 2020, that have been limited, as business was impacted only in the latter half of March 2020.

However, in the view of the continued impact in the Q1 FY20, various cost rationalization measures have been initiated subsequent to the year end and are being monitored as well, it added. The company further told hotels in the most locations that have been allowed to resume the operations effective 8th June with the balance expecting to open by 1st July .


Also read:-Oil import rose to USD 33.7 billion in quarter four of FY20 from USD 32.5 billion