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EIH Ltd, the parent company of Oberoi Hotels, has reported a substantial 61% increase in its consolidated net profit for the initial quarter of the fiscal year. Concurrently, the company's revenue also experienced a noteworthy surge of 26.7% in comparison to the same period from the previous year.During the quarter ending on June 30, the hospitality firm achieved a profit after tax amounting to ₹106 crore, demonstrating a significant rise from ₹69.44 crore recorded in the corresponding quarter of the preceding fiscal year.The total income from operations for the company reached ₹522.6 crore, showcasing a substantial growth from ₹412.33 crore in the initial quarter of the previous year.
(Read More)On Tuesday, Zee Learn Ltd., owned by Subhash Chandra's Essel Group, officially announced the execution of a settlement agreement with JC Flowers Asset Restructuring Co. (ARC).Zee Learn is part of the Essel Group conglomerate, which has a combined exposure of ₹6,500 crore with JC Flowers ARC.
Subhash Chandra has been actively working to reach a settlement in this matter.Mint was the first to report this development on Tuesday, revealing that Chandra was in the final stages of formalizing a definitive agreement worth approximately ₹1,500 crore. This agreement aims to reacquire ownership of the family's holdings in Dish TV and Zee Learn, as well as three properties, one of which is a bungalow located in central Delhi.
(Read More)On Tuesday, Coal India Limited released its Q1 financial results, revealing a 10% year-on-year decrease in net profit, which amounted to ₹7,941 crore for the quarter ending June 2023. This figure is down from ₹8,834 crore reported during the corresponding quarter in the previous year.
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