EIH Ltd. appointed Vineet Kumar as chief financial officer on Thursday, according to an exchange filing on the Bombay Stock Exchange and National Stock Exchange.
Kumar succeeds Kallol Kundu, who had resigned from the position of CFO. Kundu's last working day will be Sept. 25.
EIH Ltd and EIH Associated Hotels (previously known as East India Hotels) serve as the primary holding companies of the Oberoi Group. The Group operates 20 luxury hotels under the Oberoi Hotels & Resorts brand and manages 10 five-star properties under the Trident Hotels brand.
EIH Ltd saw a rise in standalone profit after tax to Rs 114 crore for the quarter ended September 2024. This was a 34% year-on-year increase from Rs 85 crore reported in the same period in the previous year.
Revenue from operations was up over 14% YoY to Rs 558 crore, while earnings before interest, taxes, depreciation, and amortisation rose by more than 27% YoY to Rs 189 crore. The company announced its second quarter results on Tuesday after market hours.
The share price of EIH Ltd. closed 0.71% lower at Rs 423.75 apiece on the NSE, compared to a 0.4% decrease in the benchmark Nifty 50.
The stock has risen 69.84% on a year-to-date basis and 73.14% over the past 12 months.
The stock fell as low as 1.62% to trade at Rs 419.90 apiece intraday.
Out of the two analysts tracking the company, one has a 'buy' rating on the stock, and one suggests a 'hold,' according to Bloomberg data.
The average of 12-month analysts' consensus price targets implies a potential downside of 5.6%.
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