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ICICI Direct Report
EIH Ltd.'s Q2 FY21 operational performance was below our estimates as premium segment hotel remained worst affected due to international travel ban along with weak business segment demand due to pandemic.
Revenues for the quarter fell approximately 79% YoY to Rs 60.4 crore (versus our estimate of Rs 69.9 crore).
The company managed to curtail operating expenditure by over 42% YoY to Rs 155.6 crore.
The major reduction was in other expenses that were down 46% YoY to Rs 69 crore.
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