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ICICI Direct Report
EIH Ltd. reported a healthy performance in Q1 FY23. Revenue for the quarter surpassed pre-Covid levels (i.e. Q1 FY20) by 18%. On a YoY basis, revenues were up 332% (up 28.9% QoQ) to Rs 342.4 crore (higher than our estimates of Rs 317.1 crore).
Ebitda margin came in at 23.1%, higher than our estimate of 20.1%. It was also far higher than Ebitda margin of 7.4% during Q1 FY20 and 14.4% during Q1 FY19. Absolute Ebitda came in at Rs 79.2 crore versus our estimated Ebitda of Rs 63.7 crore.
EIH reported a net profit of Rs 42.4 crore versus net loss of Rs 93.1 crore last year and loss of Rs 7.3 crore last quarter.
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