EIH Q2 net profit rises over 4-fold to Rs 94.14 crore

Hospitality major EIH Ltd on Friday reported an over four-fold rise in its consolidated net profit to Rs 94.14 crore in the second quarter ended September 30, 2023, driven by higher revenue.

The company, which owns and operates hotels and resorts under the Oberoi and Trident brands, had posted a consolidated net profit of Rs 22.35 crore in the year-ago period, EIH Ltd said in a regulatory filing.

Consolidated revenue from operations was at Rs 530.57 crore in the quarter under review as against Rs 401.05 crore in the corresponding period a year ago, it added.

Total expenses in the second quarter were higher at Rs 426.43 crore as compared to Rs 355.9 crore in the last fiscal.

EIH Ltd Executive Chairman Arjun Oberoi said the company achieved "exceptional financial results in the second quarter. 

We've seen a significant growth in both revenue and profitability." 

He further said the company is committed to expanding its presence in key markets.