New Delhi: Hospitality major EIH, which runs hotels and resorts under brands Oberoi and Trident, on Thursday reported a 51.18 per cent decline in standalone net profit at Rs 23.39 crore for the March quarter due to higher expenses and an exceptional item loss.
The company had posted a standalone net profit of Rs 47.91 crore for the corresponding period of fiscal year 2014-15, it said in a filing to the BSE.
Net sales in the quarter under review rose 8.07 per cent to Rs 418.95 crore as against Rs 387.66 crore in the year-ago period, it added.
Total expenses stood at Rs 354.27 crore during the quarter under review as against Rs 317.66 crore in the corresponding quarter of fiscal year 2014-15 - an increase of 11.53 per cent.
The company said it had an exceptional item loss of Rs 29.25 crore during the quarter under review.
For fiscal year 2015-16, its standalone net profit surged 5 per cent to Rs 101.47 crore as against Rs 96.63 crore in the preceding year.
Net sales rose 6.14 per cent to Rs 1,416.5 crore in the fiscal year compared with Rs 1,334.59 crore in 2014-15.
EIH said its board of directors at its meeting held on Thursday recommended to the shareholders for declaring the interim dividend of Rs 1.1 per share disbursed on March 23, 2016, to
be the final dividend for 2015-16.
The company said its hotel, Oberoi in the Capital has been
closed from April 1, 2016, and is expected to be reopened on
April 1, 2018.
EIH Ltd shares closed 0.09 per cent up at Rs 108.65 on BSE
in the pre-close session. PTI RKL PRB
ABI
05261535
NNNN
The company had posted a standalone net profit of Rs 47.91 crore for the corresponding period of fiscal year 2014-15, it said in a filing to the BSE.
Net sales in the quarter under review rose 8.07 per cent to Rs 418.95 crore as against Rs 387.66 crore in the year-ago period, it added.
Total expenses stood at Rs 354.27 crore during the quarter under review as against Rs 317.66 crore in the corresponding quarter of fiscal year 2014-15 - an increase of 11.53 per cent.
The company said it had an exceptional item loss of Rs 29.25 crore during the quarter under review.
For fiscal year 2015-16, its standalone net profit surged 5 per cent to Rs 101.47 crore as against Rs 96.63 crore in the preceding year.
Net sales rose 6.14 per cent to Rs 1,416.5 crore in the fiscal year compared with Rs 1,334.59 crore in 2014-15.
EIH said its board of directors at its meeting held on Thursday recommended to the shareholders for declaring the interim dividend of Rs 1.1 per share disbursed on March 23, 2016, to
be the final dividend for 2015-16.
The company said its hotel, Oberoi in the Capital has been
closed from April 1, 2016, and is expected to be reopened on
April 1, 2018.
EIH Ltd shares closed 0.09 per cent up at Rs 108.65 on BSE
in the pre-close session. PTI RKL PRB
ABI
05261535
NNNN
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