EIH Ltd's Profit Soars Over Two-Fold in March Quarter FY24

EIH Ltd reported a significant surge in its consolidated net profit to Rs 247.6 crore for the March quarter, largely due to increased revenue. The company's total income rose 17.6% in the quarter and 25.3% for the full fiscal year, underlining robust growth in its hospitality business.

Hospitality major EIH Ltd on Wednesday reported more than two-fold increase in consolidated net profit to Rs 247.6 crore for the March quarter, driven by higher revenue.

The company, which owns and operates hotels and resorts under the Oberoi and Trident brands, had posted a consolidated net profit Rs 92.16 crore a year ago, a regulatory filing showed.

During the quarter under review, its total income rose 17.6 per cent to Rs 781 crore, against Rs 663.86 crore in the corresponding January-March period of the previous year.

For the full financial year 2023-24, EIH Ltd's net profit more than doubled to Rs 677.7 crore, as against Rs 329.1 crore in the previous fiscal. The company's total income during FY24 grew 25.3 per cent to Rs 2,626 crore, from Rs 2,096.4 crore a year ago.