EIH Q1 Results: Net profit rises 65% on year to ₹103.76 crore
EIH Ltd on Tuesday reported an 65.2% year-on-year rise in its consolidated net profit (profit attributable to owners of EIH Ltd) for the fiscal's first quarter ended June (Q1FY24) to ₹103.76 crore. The company had reported a profit of ₹62.82 crore in the year-ago period.
Sequentially, consolidated net profit was up 23% from ₹84.37 crore in Q4FY23. EIH shares closed flat at ₹209.85 apiece on BSE.
The company's consolidated revenue from operations rose 26.3% on year to ₹498.10 crores during the quarter ended June from ₹394.29 crore in Q1FY23. Total income rose to ₹522.60 crore in the first quarter.
It stood at ₹412.33 crore in the year-ago period. The company in its exchange filing stated that earnings before interest, taxes, and amortization (EBITDA) increased by 53.1% on year to ₹180 crore during the quarter under review.
Vikram Oberoi, CEO&MD, EIH Ltd stated, "We are delighted with the remarkable financial performance for the first quarter of FY24. The significant growth in revenue and profitability reflects the dedication of our team and the enduring trust of our valued guests." (more to come)
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