Multi-bagger stock: EIH shares hit all-time high after posting good Q3 numbers

Shares of EIH Ltd clocked an all-time high at Rs 423 apiece and hit the upper circuit of 20 per cent at Rs 426.15 apiece on the BSE in the early trade on Wednesday (February 7), gaining for the fourth straight session. 

The stock of the flagship company of the Oberoi Group climbed after it posted good Q3 FY24 results.

At around 9:52 a.m., shares of EIH traded 19.99 per cent, or Rs 71, higher at Rs 426.15 apiece. Meanwhile, its market capitalisation stood at Rs 26,649.89 crore at around the same time.

On Tuesday post-market hours, India-based luxury hospitality company EIH Ltd reported a consolidated profit after tax (PAT) of Rs 229.94 crore in the third quarter ended December, up 54.6 per cent from Rs 151.08 crore in the year-ago period.

Total income increased to Rs 769.87 crore, registering a growth of 27.6 per cent from Rs 603.22 crore in the corresponding quarter of the previous financial year, a regulatory filing showed. The company's total expenses rose to Rs 456.01 crore during the quarter under review from Rs 415.99 crore a year ago.

Meanwhile, its revenue increased by 26.4 per cent to Rs 741 crore for the quarter under review, up from Rs 586 crore a year ago. The company recorded earnings before interest, tax, depreciation, and amortisation (EBITDA) at Rs 324 crore for the third quarter ended December 31 against Rs 209 crore, which implies a rise of 55 per cent year-on-year (YoY). 

Additionally, the margin improved to 43.7 per cent from 35.6 per cent a year ago.

EIH Ltd price: Past performance 

In a year, shares of EIH have given a multi-bagger return of over 153 per cent against the Nifty50's rise of over 24 per cent.

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