Oberoi Hotels Q1 results: PAT jumps 61% to ₹106 crore
Mumbai: Oberoi Hotels parent EIH Ltd has posted a 61% jump in its consolidated net profit for the first quarter of the fiscal, while its revenue jumped 26.7%, compared to year ago period. The hospitality company posted a profit after tax of ₹106 crore in the quarter ended 30 June, compared to ₹69.44 crore in the corresponding quarter of the previous fiscal.
Total income from operations was at ₹522.6 crore, up from 412.33 crore in the first quarter last year. EIH’s operating profit for the quarter went up by 53.1% to ₹180 crore in the quarter under review "We are delighted with the remarkable financial performance for the first quarter of FY’24.
The significant growth in revenue and profitability reflects the dedication of our team and the enduring trust of our valued guests," commented Vikram Oberoi, CEO and MD, EIH Ltd. Founded in 1934, Oberoi Hotels operates 32 hotels and two Nile Cruisers.
The Group has presence in seven countries under the luxury 'Oberoi' and five-star 'Trident' brand. EIH stock closed flat at ₹209.85 apiece on BSE on Tuesday.
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