EIH

Hospitality firm EIH Ltd, a part of the Oberoi group, on Friday reported an over three-fold rise in consolidated net profit at Rs 151.08 crore in the December quarter, on the back of higher revenue. The company had posted a consolidated net profit of Rs 41.85 crore in the same quarter a year ago, EIH Ltd said in a regulatory filing. Consolidated revenue from operations during the period under review stood at Rs 586.41 crore as compared to Rs 360.12 crore in the corresponding period last fiscal. Total expenses were higher at Rs 415.99 crore, up from Rs 313.87 crore in the third quarter last fiscal, the company said.

Among individual stocks, Asian Paints, EIH and Alkem Laboratories can rally up to 18 per cent each. Hindustan Unilever and Metro Brands too are poised to log smart gains, indicate charts.

Oberoi group firm EIH Associated Hotels Ltd on Tuesday reported a profit after tax of Rs 5.68 crore in the first quarter ended June 30, 2022

Biki has been the chief architect, designer and planner in every one of his hotels

The veteran hotelier is credited with making Oberoi a brand to reckon with steps down owing to ill health

The board of directors at a meeting held on Monday appointed Shib Sanker Mukherji, who was the vice chairman, as the new chairman of the company, EIH Associated Hotels said in a regulatory filing

The hospitality firm on Friday reported a consolidated net loss

Easing of travel related restrictions, coupled with pent-up vacation demand, seems to the driving force behind a sharp surge in hotel shares

Cost cutting initiatives by Indian Hotels, EIH helps restrict loss at the operating level

An ITC spokesperson says EIH issue was attractively priced, and that ITC holding in EIH was part of its treasury investment portfolio

The company had posted a net profit of Rs 30.55 crore for the corresponding period of the previous fiscal, EIH said in a BSE filing

EIH's successful rights issue to help firm reduce debt substantially, paves way for more companies to actively consider fund raising

The rights issue price has been fixed at Rs 65 per equity share, including a premium of Rs 63 per equity share over face value of Rs 2 per share, it added

The company had posted a net loss of Rs 1.13 crore in the corresponding period of previous fiscal, EIH said in a filing to the BSE

Most hotel-related stocks gained ground in this backdrop, with Indian Hotels, EIH Ltd, Lemon Tree Hotels, TAJ GVK Hotels and Speciality Restaurants rallying up to 5 per cent

Hotel stocks are under pressure because the coronavirus outbreak could impact occupancies and, thus, drive down room tariffs

The firm, which owns the Oberoi chain of hotels, posted a pre-tax loss of Rs 11 crore compared to Rs 16 crore profit a year ago

The company had posted a net profit of Rs 28 crore for corresponding period of previous fiscal

Company had posted a net profit of Rs 50.15 crore for the corresponding period of the previous FY

EIH's net profit has shrunk from Rs 9.24 crore during Sept quarter last year to Rs 3.79 crore in the same period this year